Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stock Position in Visa Inc. (NYSE:V)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Visa Inc. (NYSE:V) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 347,205 shares of the credit-card processor’s stock after selling 1,860 shares during the period. Visa accounts for approximately 0.7% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s portfolio, making the stock its 22nd largest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Visa were worth $96,898,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter worth $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Visa in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock traded up $0.80 during trading hours on Tuesday, reaching $269.25. The company’s stock had a trading volume of 7,482,223 shares, compared to its average volume of 6,879,960. The firm has a 50 day moving average price of $272.59 and a 200-day moving average price of $274.23. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market cap of $492.44 billion, a P/E ratio of 30.08, a P/E/G ratio of 1.85 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. On average, analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Piper Sandler assumed coverage on shares of Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. TD Cowen assumed coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Robert W. Baird raised their target price on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Macquarie raised their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.44.

Visa Company 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.