State of Tennessee Department of Treasury Cuts Stock Holdings in Visa Inc. (NYSE:V)

State of Tennessee Department of Treasury reduced its stake in Visa Inc. (NYSE:V) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 591,621 shares of the credit-card processor’s stock after selling 21,310 shares during the quarter. Visa makes up 0.7% of State of Tennessee Department of Treasury’s investment portfolio, making the stock its 25th largest holding. State of Tennessee Department of Treasury’s holdings in Visa were worth $186,976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Norges Bank purchased a new position in Visa during the fourth quarter worth about $5,171,271,000. Vanguard Group Inc. lifted its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Visa in the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC grew its holdings in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. Finally, Sanders Capital LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $623,022,000. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. This represents a 94.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on V. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Raymond James reissued an “outperform” rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Finally, Barclays boosted their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $355.84.

Visa Stock Performance

NYSE:V opened at $329.26 on Monday. The stock has a market cap of $611.69 billion, a P/E ratio of 33.19, a PEG ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $340.68 and its two-hundred day moving average price is $321.05. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

Visa Company 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.