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

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of Visa Inc. (NYSE:V) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,570 shares of the credit-card processor’s stock after selling 11,236 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 12th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in Visa were worth $79,415,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of V. Livelsberger Financial Advisory purchased a new position in shares of Visa during the fourth quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its holdings in shares of 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 during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $274.77 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s fifty day moving average price is $271.45 and its 200 day moving average price is $273.11. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a market cap of $502.54 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Citigroup lowered their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

About Visa

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.