California Public Employees Retirement System Purchases 328,807 Shares of Visa Inc (NYSE:V)

California Public Employees Retirement System grew its stake in Visa Inc (NYSE:V) by 6.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,522,110 shares of the credit-card processor’s stock after purchasing an additional 328,807 shares during the period. Visa makes up about 1.1% of California Public Employees Retirement System’s holdings, making the stock its 9th largest holding. California Public Employees Retirement System owned approximately 0.28% of Visa worth $958,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Visa by 1.1% during the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock worth $25,507,824,000 after purchasing an additional 1,615,505 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Visa by 2.3% during the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock worth $21,483,952,000 after buying an additional 2,773,330 shares during the last quarter. FMR LLC grew its holdings in shares of Visa by 1.9% during the first quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock worth $14,409,440,000 after buying an additional 1,731,813 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Visa by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 78,658,915 shares of the credit-card processor’s stock valued at $13,651,254,000 after purchasing an additional 379,577 shares during the period. Finally, Lunia Capital LP lifted its position in Visa by 13,370.7% in the fourth quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after purchasing an additional 23,280,332 shares during the period. Institutional investors and hedge funds own 80.99% of the company’s stock.

Shares of Visa stock opened at $174.88 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.69. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05. The firm’s 50-day simple moving average is $177.21 and its 200-day simple moving average is $170.42. The firm has a market cap of $346.99 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Visa Inc will post 5.41 earnings per share for the current year.

In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total value of $4,537,738.14. Following the transaction, the insider now owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the purchase, the director now owns 3,223 shares in the company, valued at approximately $551,551.99. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

A number of equities research analysts have recently issued reports on V shares. Robert W. Baird set a $196.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Wedbush set a $187.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Tuesday, September 24th. KeyCorp lifted their price target on shares of Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays lifted their price objective on Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Goldman Sachs Group restated a “buy” rating and set a $202.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $196.57.

Visa Company Profile

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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