Kentucky Retirement Systems Has $32 Million Stock Holdings in Visa Inc. (NYSE:V)

Kentucky Retirement Systems decreased its position in shares of Visa Inc. (NYSE:V) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,372 shares of the credit-card processor’s stock after selling 2,250 shares during the period. Visa makes up 0.9% of Kentucky Retirement Systems’ holdings, making the stock its 15th biggest position. Kentucky Retirement Systems’ holdings in Visa were worth $31,996,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. POM Investment Strategies LLC raised its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC raised its position in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa during the 2nd quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa during the 2nd quarter worth approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.5 %

NYSE:V opened at $309.67 on Friday. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The firm’s fifty day moving average is $287.04 and its 200-day moving average is $275.90. The firm has a market cap of $564.31 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm 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%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. Equities analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

Analysts Set New Price Targets

V has been the subject of several research analyst reports. Robert W. Baird boosted 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. Compass Point initiated coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $321.00 price objective (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

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.