State of Alaska Department of Revenue Sells 11,004 Shares of Visa Inc. $V

State of Alaska Department of Revenue cut its position in Visa Inc. (NYSE:V) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,303 shares of the credit-card processor’s stock after selling 11,004 shares during the quarter. Visa makes up approximately 0.6% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 17th largest holding. State of Alaska Department of Revenue’s holdings in Visa were worth $61,893,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of V. Vanguard Group Inc. boosted its stake in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank purchased a new position in Visa during the 2nd quarter worth $7,034,939,000. TCI Fund Management Ltd. increased its position in Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after buying an additional 2,429,996 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Visa by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock valued at $4,552,057,000 after buying an additional 145,665 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,042 shares of company stock valued at $8,247,289 over the last ninety days. Company insiders own 0.12% of the company’s stock.

Visa Stock Down 0.7%

NYSE:V opened at $349.75 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day moving average price is $340.09 and its 200-day moving average price is $344.13. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The firm has a market capitalization of $637.15 billion, a P/E ratio of 34.26, a PEG ratio of 2.06 and a beta of 0.81.

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

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on V shares. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Evercore ISI set a $380.00 target price on shares of Visa in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a research note on Thursday, December 11th. Finally, KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $402.52.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.