Visa Inc. $V Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System grew its holdings in shares of Visa Inc. (NYSE:V) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,651,081 shares of the credit-card processor’s stock after purchasing an additional 19,192 shares during the period. Visa comprises about 1.0% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 13th biggest position. State Board of Administration of Florida Retirement System owned about 0.09% of Visa worth $586,216,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Keystone Global Partners LLC acquired a new stake in Visa during the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter worth $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the second quarter worth $29,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of Visa in the second quarter valued at $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on V. Robert W. Baird set a $425.00 target price on Visa in a research note on Wednesday, October 29th. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 24,042 shares of company stock worth $8,175,152. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 0.1%

V stock opened at $334.10 on Thursday. The stock has a market cap of $608.65 billion, a P/E ratio of 32.72, a PEG ratio of 1.98 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company’s 50 day moving average is $339.91 and its two-hundred day moving average is $347.52.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is 26.25%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.