TIAA Trust National Association Decreases Stock Holdings in Visa Inc. $V

TIAA Trust National Association reduced its stake in shares of Visa Inc. (NYSE:V) by 1.7% in the second quarter, HoldingsChannel reports. The firm owned 193,628 shares of the credit-card processor’s stock after selling 3,283 shares during the period. TIAA Trust National Association’s holdings in Visa were worth $68,747,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in V. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after buying an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC purchased a new stake in Visa in the second quarter valued at about $862,000. Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after buying an additional 3,484 shares during the last quarter. Finally, NatWest Group plc raised its stake in Visa by 43.8% in the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after buying an additional 13,912 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 1.2%

Visa stock opened at $336.74 on Tuesday. The firm has a market cap of $617.17 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. Visa Inc. has a 52 week low of $290.76 and a 52 week high of $375.51. The business’s 50-day moving average price is $344.54 and its 200 day moving average price is $348.57. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

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

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is 23.11%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on V shares. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on Visa in a report on Wednesday, October 29th. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. KeyCorp reissued an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $400.00.

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.