State of Tennessee Treasury Department Sells 78,206 Shares of Visa Inc (V)

State of Tennessee Treasury Department lowered its stake in Visa Inc (NYSE:V) by 8.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 796,748 shares of the credit-card processor’s stock after selling 78,206 shares during the period. State of Tennessee Treasury Department’s holdings in Visa were worth $83,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. bought a new stake in Visa in the second quarter worth about $958,000. Cordasco Financial Network bought a new stake in Visa in the third quarter worth about $105,000. Motco lifted its stake in Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the last quarter. MPS Loria Financial Planners LLC bought a new stake in Visa in the second quarter worth about $123,000. Finally, BDO Wealth Advisors LLC bought a new stake in Visa in the second quarter worth about $115,000. Institutional investors own 81.50% of the company’s stock.

Visa Inc (NYSE:V) opened at $118.98 on Thursday. The company has a market cap of $269,630.00, a P/E ratio of 42.49, a P/E/G ratio of 1.73 and a beta of 0.99. Visa Inc has a 12 month low of $80.51 and a 12 month high of $120.48. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. Visa’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. analysts forecast that Visa Inc will post 4.07 EPS for the current fiscal year.

In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the transaction, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Insiders sold 58,068 shares of company stock valued at $6,597,262 in the last three months. 0.14% of the stock is currently owned by insiders.

Several analysts have issued reports on V shares. Vetr raised shares of Visa from a “sell” rating to a “hold” rating and set a $105.08 price objective for the company in a research note on Wednesday, September 13th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Tuesday, September 19th. Royal Bank of Canada reissued a “buy” rating and issued a $124.00 price objective on shares of Visa in a research note on Friday, September 22nd. Robert W. Baird reissued a “buy” rating and issued a $122.00 price objective on shares of Visa in a research note on Tuesday, September 26th. Finally, Cantor Fitzgerald started coverage on shares of Visa in a research note on Thursday, September 28th. They issued an “overweight” rating and a $120.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $120.94.

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Visa Company Profile

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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