Employees Retirement System of Texas Sells 11,920 Shares of Visa Inc. (NYSE:V)

Employees Retirement System of Texas lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,866 shares of the credit-card processor's stock after selling 11,920 shares during the period. Employees Retirement System of Texas' holdings in Visa were worth $8,807,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE boosted its stake in Visa by 75.8% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 464 shares of the credit-card processor's stock valued at $147,000 after acquiring an additional 200 shares during the last quarter. Polymer Capital Management HK LTD bought a new stake in Visa in the fourth quarter valued at about $316,000. Aristides Capital LLC lifted its holdings in Visa by 12.1% during the 4th quarter. Aristides Capital LLC now owns 7,850 shares of the credit-card processor's stock worth $2,481,000 after buying an additional 850 shares during the last quarter. Ashburton Jersey Ltd grew its position in shares of Visa by 35.4% in the 4th quarter. Ashburton Jersey Ltd now owns 72,831 shares of the credit-card processor's stock worth $23,018,000 after acquiring an additional 19,057 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Visa by 2.2% in the 4th quarter. Federated Hermes Inc. now owns 582,195 shares of the credit-card processor's stock valued at $183,997,000 after acquiring an additional 12,287 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,205 shares of company stock valued at $48,842,490. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on V. Piper Sandler reiterated an "overweight" rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Barclays upped their target price on Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. StockNews.com lowered Visa from a "buy" rating to a "hold" rating in a research report on Monday. William Blair reissued an "outperform" rating on shares of Visa in a report on Friday, January 31st. Finally, Bank of America increased their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $355.84.

Visa Stock Performance

Shares of V stock traded down $8.92 during trading hours on Thursday, hitting $323.51. 4,619,196 shares of the company were exchanged, compared to its average volume of 7,263,304. The stock has a market capitalization of $601.01 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.33 and a beta of 0.94. The firm has a fifty day simple moving average of $343.06 and a 200 day simple moving average of $317.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio is presently 23.79%.

Visa 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.