Kentucky Retirement Systems Sells 7,246 Shares of Visa Inc. $V

by · The Markets Daily

Kentucky Retirement Systems decreased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 6.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,584 shares of the credit-card processor’s stock after selling 7,246 shares during the period. Visa accounts for 1.1% of Kentucky Retirement Systems’ portfolio, making the stock its 13th largest position. Kentucky Retirement Systems’ holdings in Visa were worth $39,263,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in V. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the second quarter worth $29,000. Sagard Holdings Management Inc. bought a new position in shares of Visa during the second quarter valued at $31,000. Finally, Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Up 0.6%

NYSE:V opened at $347.83 on Monday. The company has a market cap of $633.65 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $337.70 and a two-hundred day simple moving average of $345.14. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

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

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

Analyst Ratings Changes

Several brokerages recently commented on V. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective on the stock in a research report on Thursday. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. HSBC raised Visa from a “hold” rating to a “buy” rating and upped their price objective for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. Finally, Macquarie reduced their target price on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $402.52.

View Our Latest Analysis on Visa

Insider Activity

In other Visa news, Director Lloyd Carney sold 900 shares of the 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 transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 24,042 shares of company stock valued at $8,175,152 in the last quarter. 0.12% of the stock is currently owned by insiders.

Visa Company Profile

(Free Report)

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.

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