Teacher Retirement System of Texas raised its position in Visa Inc. (NYSE:V) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,335,550 shares of the credit-card processor’s stock after buying an additional 25,139 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Visa worth $99,058,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Iowa State Bank purchased a new stake in Visa during the second quarter valued at approximately $111,000. West Oak Capital LLC raised its stake in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in Visa during the second quarter valued at approximately $148,000. WealthTrust Arizona LLC raised its stake in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares in the last quarter. Finally, Invictus RG raised its stake in Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares in the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
Visa Inc. (NYSE:V) traded up 0.33% during mid-day trading on Tuesday, reaching $82.08. 3,061,507 shares of the company traded hands. The stock has a market capitalization of $193.71 billion, a PE ratio of 34.88 and a beta of 0.91. The firm’s 50-day moving average is $81.40 and its 200 day moving average is $78.53. Visa Inc. has a 52-week low of $66.12 and a 52-week high of $83.79.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Visa had a net margin of 38.72% and a return on equity of 22.36%. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.67 billion. On average, equities research analysts expect that Visa Inc. will post $2.79 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.56 annualized dividend and a yield of 0.68%. Visa’s payout ratio is 24.35%.
Several analysts have recently issued reports on the stock. Sanford C. Bernstein reiterated a “buy” rating on shares of Visa in a research report on Wednesday, June 15th. Argus reiterated a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Visa in a research report on Monday, July 25th. Deutsche Bank AG reiterated a “buy” rating and issued a $87.00 target price on shares of Visa in a research report on Tuesday, September 6th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $83.12 target price on the stock. in a research report on Monday, August 15th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $94.00 target price on shares of Visa in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Visa has an average rating of “Buy” and a consensus target price of $88.54.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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