Visa Inc (NYSE:V) is State of Michigan Retirement System’s 9th Largest Position

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State of Michigan Retirement System decreased its stake in Visa Inc (NYSE:V) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 852,649 shares of the credit-card processor’s stock after selling 52,700 shares during the quarter. Visa comprises 1.4% of State of Michigan Retirement System’s portfolio, making the stock its 9th biggest holding. State of Michigan Retirement System’s holdings in Visa were worth $170,504,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Emerald Advisors LLC lifted its stake in shares of Visa by 2.1% during the 2nd quarter. Emerald Advisors LLC now owns 2,428 shares of the credit-card processor’s stock worth $469,000 after acquiring an additional 51 shares during the last quarter. BEAM Asset Management LLC lifted its stake in shares of Visa by 2.0% during the 2nd quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock worth $525,000 after acquiring an additional 52 shares during the last quarter. Perennial Investment Advisors LLC lifted its stake in shares of Visa by 2.6% during the 2nd quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock worth $391,000 after acquiring an additional 52 shares during the last quarter. Trellis Advisors LLC lifted its stake in shares of Visa by 2.2% during the 2nd quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock worth $467,000 after acquiring an additional 52 shares during the last quarter. Finally, Atlas Private Wealth Management lifted its stake in shares of Visa by 0.6% during the 2nd quarter. Atlas Private Wealth Management now owns 9,459 shares of the credit-card processor’s stock worth $1,827,000 after acquiring an additional 53 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Shares of Visa stock opened at $184.87 on Friday. The firm has a market capitalization of $359.09 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.59 and a beta of 0.91. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $217.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a 50 day moving average of $200.32 and a 200 day moving average of $193.80.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 28th. The credit-card processor reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. Visa had a return on equity of 40.65% and a net margin of 51.37%. Analysts forecast that Visa Inc will post 5.01 EPS for the current year.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $212.00, for a total transaction of $1,484,000.00. Following the transaction, the chief executive officer now directly owns 127,090 shares in the company, valued at $26,943,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 1,550 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total value of $298,592.00. Following the transaction, the director now owns 2,962 shares in the company, valued at $570,599.68. The disclosure for this sale can be found here. Insiders sold 111,122 shares of company stock valued at $23,383,541 over the last quarter. 0.19% of the stock is currently owned by company insiders.

A number of equities research analysts have weighed in on V shares. Mizuho reaffirmed a “buy” rating and set a $250.00 target price on shares of Visa in a research report on Thursday, October 8th. Jefferies Financial Group lifted their target price on Visa from $185.00 to $205.00 and gave the company a “hold” rating in a research report on Friday, October 2nd. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $204.00 target price on shares of Visa in a research report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their target price on Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Finally, The Goldman Sachs Group initiated coverage on Visa in a report on Tuesday, July 14th. They issued a “buy” rating and a $223.00 price target on the stock. Six analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $216.79.

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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