State Treasurer State of Michigan Buys 81,400 Shares of Visa Inc (V)
State Treasurer State of Michigan lifted its holdings in Visa Inc (NYSE:V) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,411,144 shares of the credit-card processor’s stock after purchasing an additional 81,400 shares during the quarter. Visa comprises about 1.2% of State Treasurer State of Michigan’s portfolio, making the stock its 19th biggest position. State Treasurer State of Michigan owned approximately 0.06% of Visa worth $148,509,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Visa by 6.5% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 17,784 shares of the credit-card processor’s stock worth $1,872,000 after purchasing an additional 1,080 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Visa by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after purchasing an additional 355,320 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Visa by 1.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,303,042 shares of the credit-card processor’s stock worth $137,132,000 after purchasing an additional 15,020 shares in the last quarter. Sabal Trust CO acquired a new stake in shares of Visa in the 3rd quarter worth $203,000. Finally, Wendell David Associates Inc. lifted its position in Visa by 15.2% during the 3rd quarter. Wendell David Associates Inc. now owns 12,851 shares of the credit-card processor’s stock worth $1,352,000 after acquiring an additional 1,700 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.
Visa Inc (NYSE:V) opened at $112.12 on Thursday. The firm has a market capitalization of $235,234.86, a PE ratio of 32.63, a price-to-earnings-growth ratio of 1.66 and a beta of 0.97. Visa Inc has a 52 week low of $77.19 and a 52 week high of $114.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were paid a dividend of $0.195 per share. The ex-dividend date was Thursday, November 16th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.70%. This is a positive change from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio (DPR) is presently 27.86%.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the transaction, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the transaction, the senior vice president now owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock valued at $6,597,262 in the last quarter. Company insiders own 0.14% of the company’s stock.
A number of analysts have commented on V shares. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a research report on Thursday, August 24th. KeyCorp reaffirmed a “buy” rating and set a $110.00 price target on shares of Visa in a research report on Friday, August 25th. Buckingham Research started coverage on Visa in a research report on Monday, October 2nd. They set a “buy” rating and a $129.00 price target for the company. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $108.51 price target for the company in a research report on Tuesday, September 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $124.00 price target on shares of Visa in a research report on Friday, September 22nd. Two research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Visa presently has an average rating of “Buy” and an average target price of $117.23.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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