State Board of Administration of Florida Retirement System Has $409.61 Million Stock Holdings in Visa Inc (NYSE:V)

State Board of Administration of Florida Retirement System cut its stake in shares of Visa Inc (NYSE:V) by 2.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,360,203 shares of the credit-card processor’s stock after selling 68,925 shares during the period. Visa makes up about 1.1% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 11th biggest position. State Board of Administration of Florida Retirement System owned 0.12% of Visa worth $409,613,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in V. Asset Dedication LLC increased its position in Visa by 4.2% in the 2nd quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock worth $2,799,000 after purchasing an additional 647 shares during the last quarter. Laurel Wealth Advisors Inc. increased its position in Visa by 12.0% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock worth $1,122,000 after purchasing an additional 767 shares during the last quarter. Doliver Advisors LP increased its position in Visa by 16.8% in the 2nd quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock worth $2,577,000 after purchasing an additional 2,134 shares during the last quarter. Investec Asset Management LTD increased its position in Visa by 6.6% in the 2nd quarter. Investec Asset Management LTD now owns 4,900,087 shares of the credit-card processor’s stock worth $850,410,000 after purchasing an additional 305,148 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Visa by 18.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 406,519 shares of the credit-card processor’s stock worth $63,494,000 after purchasing an additional 62,736 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors.

In related news, Director Denise M. Morrison bought 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the acquisition, the director now owns 3,223 shares in the company, valued at approximately $551,551.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 3,500 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the transaction, the director now directly owns 3,452 shares of the company’s stock, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

NYSE:V traded up $1.70 during mid-day trading on Wednesday, hitting $180.94. 1,404,711 shares of the company’s stock traded hands, compared to its average volume of 7,535,775. The firm has a 50 day moving average of $178.71 and a two-hundred day moving average of $162.97. Visa Inc has a 12 month low of $121.60 and a 12 month high of $184.07. The firm has a market capitalization of $353.59 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Visa Inc will post 5.4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. Visa’s dividend payout ratio is currently 21.69%.

V has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Visa from $175.00 to $191.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Raymond James upped their price target on Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research note on Saturday, June 15th. KeyCorp upped their price target on Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird set a $196.00 price target on Visa and gave the stock a “buy” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $195.46.

About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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