Utah Retirement Systems Trims Stake in Visa Inc. (V)
Utah Retirement Systems cut its holdings in Visa Inc. (NYSE:V) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 338,824 shares of the credit-card processor’s stock after selling 10,800 shares during the period. Visa comprises 0.7% of Utah Retirement Systems’ holdings, making the stock its 25th largest holding. Utah Retirement Systems’ holdings in Visa were worth $31,775,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Clearbridge Investments LLC boosted its stake in shares of Visa by 41.4% during the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after purchasing an additional 2,677,533 shares during the period. Harbour Capital Advisors LLC boosted its stake in shares of Visa by 10,570.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,598,668 shares of the credit-card processor’s stock worth $17,047,000 after purchasing an additional 1,583,686 shares during the period. Swiss National Bank boosted its stake in shares of Visa by 23.2% during the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after purchasing an additional 1,388,200 shares during the period. Akre Capital Management LLC boosted its stake in shares of Visa by 35.0% during the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock worth $434,487,000 after purchasing an additional 1,267,080 shares during the period. Finally, Karp Capital Management Corp boosted its stake in shares of Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after purchasing an additional 941,581 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.
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Several equities research analysts have issued reports on V shares. Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $107.01 to $120.00 in a research report on Tuesday, October 10th. UBS AG reissued an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. KeyCorp reissued a “buy” rating and issued a $118.00 price objective on shares of Visa in a research report on Wednesday, October 18th. Barclays PLC boosted their price objective on shares of Visa from $114.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Nomura boosted their price objective on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Three investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $116.08.
Shares of Visa Inc. (NYSE:V) opened at $111.40 on Tuesday. Visa Inc. has a twelve month low of $75.17 and a twelve month high of $112.90. The stock has a market cap of $232,262.88, a price-to-earnings ratio of 32.15, a P/E/G ratio of 1.64 and a beta of 0.97. The company has a current ratio of 1.90, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts anticipate that Visa Inc. will post 4.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.70%. This is an increase from Visa’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, November 16th. Visa’s dividend payout ratio (DPR) is presently 23.57%.
Visa Company Profile
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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