Virginia Retirement Systems ET AL cut its stake in shares of Visa Inc (NYSE:V) by 4.6% in the 4th quarter, Holdings Channel reports. The fund owned 754,000 shares of the credit-card processor’s stock after selling 36,200 shares during the quarter. Visa accounts for approximately 1.5% of Virginia Retirement Systems ET AL’s portfolio, making the stock its 4th biggest position. Virginia Retirement Systems ET AL’s holdings in Visa were worth $141,677,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. OLD Second National Bank of Aurora purchased a new position in shares of Visa during the 4th quarter worth approximately $27,000. Selective Wealth Management Inc. purchased a new position in Visa in the 3rd quarter valued at approximately $47,000. Investors Research Corp increased its stake in Visa by 40.2% in the 3rd quarter. Investors Research Corp now owns 279 shares of the credit-card processor’s stock valued at $48,000 after purchasing an additional 80 shares in the last quarter. NewSquare Capital LLC increased its stake in Visa by 29.2% in the 3rd quarter. NewSquare Capital LLC now owns 310 shares of the credit-card processor’s stock valued at $53,000 after purchasing an additional 70 shares in the last quarter. Finally, Price Capital Management Inc. purchased a new position in Visa in the 4th quarter valued at approximately $57,000. 81.35% of the stock is owned by hedge funds and other institutional investors.
NYSE:V traded down $2.02 during mid-day trading on Monday, reaching $202.98. The stock had a trading volume of 4,361,383 shares, compared to its average volume of 7,371,995. The company has a market capitalization of $403.71 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. Visa Inc has a 1-year low of $133.30 and a 1-year high of $210.13. The stock’s 50 day simple moving average is $191.28 and its two-hundred day simple moving average is $181.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.56.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $189.31, for a total value of $1,325,170.00. Following the completion of the transaction, the chief executive officer now directly owns 150,514 shares in the company, valued at $28,493,805.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 3,110 shares of Visa stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $182.52, for a total value of $567,637.20. Following the completion of the transaction, the executive vice president now owns 227,740 shares of the company’s stock, valued at $41,567,104.80. The disclosure for this sale can be found here. Insiders sold 58,480 shares of company stock valued at $10,606,182 over the last quarter. Insiders own 0.19% of the company’s stock.
Several equities analysts recently weighed in on V shares. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Tuesday, January 14th. Guggenheim set a $194.00 price objective on Visa and gave the company a “buy” rating in a research note on Friday, October 25th. Raymond James raised their price objective on Visa from $193.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Jefferies Financial Group set a $210.00 price objective on Visa and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Macquarie assumed coverage on Visa in a report on Tuesday, January 21st. They set an “outperform” rating and a $250.00 target price on the stock. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $209.68.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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