Supplemental Annuity Collective Trust of NJ Lowers Holdings in Visa Inc. (NYSE:V)

Supplemental Annuity Collective Trust of NJ cut its holdings in shares of Visa Inc. (NYSE:V) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,600 shares of the credit-card processor’s stock after selling 1,700 shares during the period. Visa accounts for 1.2% of Supplemental Annuity Collective Trust of NJ’s holdings, making the stock its 13th biggest holding. Supplemental Annuity Collective Trust of NJ’s holdings in Visa were worth $3,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in Visa during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the fourth quarter worth $32,000. Nalls Sherbakoff Group LLC increased its position in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Valued Wealth Advisors LLC bought a new position in Visa in the fourth quarter valued at approximately $37,000. Finally, Life Planning Partners Inc acquired a new stake in Visa during the fourth quarter worth approximately $71,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V traded down $0.58 during mid-day trading on Friday, reaching $274.58. 6,840,359 shares of the stock were exchanged, compared to its average volume of 5,951,953. The stock has a market capitalization of $504.27 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.90 and a beta of 0.96. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a 50 day simple moving average of $279.32 and a 200-day simple moving average of $264.05. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 earnings per share. Analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock worth $5,256,352 in the last quarter. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Wells Fargo & Company raised their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Robert W. Baird raised their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, KeyCorp boosted their price target on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $302.58.

About Visa

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.