Teachers Retirement System of The State of Kentucky Trims Holdings in Visa Inc. (NYSE:V)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Visa Inc. (NYSE:V) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 293,556 shares of the credit-card processor’s stock after selling 9,014 shares during the period. Visa comprises approximately 0.7% of Teachers Retirement System of The State of Kentucky’s investment portfolio, making the stock its 16th biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Visa were worth $80,713,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of V. Toronto Dominion Bank grew its position in shares of Visa by 5.6% in the third quarter. Toronto Dominion Bank now owns 591,175 shares of the credit-card processor’s stock valued at $162,544,000 after purchasing an additional 31,245 shares during the period. Brown Financial Advisors grew its holdings in Visa by 10.8% in the 3rd quarter. Brown Financial Advisors now owns 5,677 shares of the credit-card processor’s stock valued at $1,561,000 after buying an additional 554 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Visa by 12.6% during the third quarter. Coldstream Capital Management Inc. now owns 56,462 shares of the credit-card processor’s stock worth $15,725,000 after purchasing an additional 6,314 shares during the period. Gould Capital LLC increased its holdings in shares of Visa by 1.3% during the 3rd quarter. Gould Capital LLC now owns 4,096 shares of the credit-card processor’s stock worth $1,126,000 after buying an additional 52 shares during the last quarter. Finally, RB Capital Management LLC raised its position in Visa by 0.9% in the third quarter. RB Capital Management LLC now owns 26,226 shares of the credit-card processor’s stock valued at $7,211,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.41.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Stock Performance

NYSE V opened at $312.38 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $317.42. The business’s 50-day simple moving average is $296.38 and its 200-day simple moving average is $279.98. The firm has a market capitalization of $581.93 billion, a P/E ratio of 32.10, a P/E/G ratio of 2.07 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $2.33 earnings per share. Equities analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.