New York State Teachers Retirement System Sells 1,697 Shares of Visa Inc. (NYSE:V)

New York State Teachers Retirement System cut its holdings in Visa Inc. (NYSE:V) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,496,842 shares of the credit-card processor’s stock after selling 1,697 shares during the period. Visa accounts for approximately 0.8% of New York State Teachers Retirement System’s portfolio, making the stock its 15th biggest holding. New York State Teachers Retirement System owned 0.08% of Visa worth $411,557,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in V. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. TruNorth Capital Management LLC increased its stake in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Abich Financial Wealth Management LLC increased its stake in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the period. CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the second quarter valued at about $35,000. Finally, Bbjs Financial Advisors LLC bought a new position in Visa during the second quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley lifted their price objective on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $320.07.

Visa Price Performance

V opened at $290.16 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $232.99 and a 12 month high of $295.78. The company has a fifty day simple moving average of $280.09 and a 200 day simple moving average of $273.38. The stock has a market cap of $530.68 billion, a P/E ratio of 32.42, a P/E/G ratio of 1.95 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 EPS. On average, research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

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.