November 10, 2019 at 11:37 pm

Public Employees Retirement Association of Colorado Sells 146,605 Shares of Visa Inc (NYSE:V)

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Public Employees Retirement Association of Colorado reduced its holdings in shares of Visa Inc (NYSE:V) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,777,099 shares of the credit-card processor’s stock after selling 146,605 shares during the period. Visa accounts for about 1.9% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 5th largest position. Public Employees Retirement Association of Colorado’s holdings in Visa were worth $305,679,000 as of its most recent filing with the SEC.

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Other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC boosted its position in Visa by 3,715.7% in the second quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock valued at $2,827,471,000 after buying an additional 15,864,991 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in Visa by 17,806.8% in the second quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after buying an additional 3,328,260 shares in the last quarter. BlackRock Inc. boosted its position in Visa by 2.3% in the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after buying an additional 2,773,330 shares in the last quarter. Prudential Financial Inc. boosted its position in Visa by 92.0% in the second quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock valued at $676,625,000 after buying an additional 1,868,089 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Visa by 1.1% in the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after buying an additional 1,615,505 shares in the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.

Shares of NYSE V traded up $0.54 during trading on Friday, reaching $178.97. The company had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The stock has a market cap of $349.90 billion, a PE ratio of 32.90, a PEG ratio of 1.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.56. The business’s 50 day moving average price is $176.22 and its 200-day moving average price is $173.43.

Visa (NYSE:V) last announced its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.04. Visa had a net margin of 52.57% and a return on equity of 42.57%. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Equities analysts anticipate that Visa Inc will post 6.21 earnings per share for the current year.

The firm also recently declared a dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. Visa’s dividend payout ratio (DPR) is 18.38%.

A number of equities analysts have commented on the stock. Jefferies Financial Group set a $210.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Friday, October 25th. SunTrust Banks boosted their price target on shares of Visa to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Credit Suisse Group boosted their price target on shares of Visa from $200.00 to $203.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. ValuEngine lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Guggenheim set a $194.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus target price of $199.04.

In related news, EVP William M. Sheedy sold 21,164 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the completion of the sale, the executive vice president now directly owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now directly owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,215 shares of company stock valued at $9,564,487. 0.17% of the stock is currently owned by insiders.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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