Great Lakes Retirement Inc. Has $10.78 Million Position in Visa Inc. (NYSE:V)

Great Lakes Retirement Inc. increased its position in shares of Visa Inc. (NYSE:V) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,385 shares of the credit-card processor’s stock after acquiring an additional 2,186 shares during the quarter. Visa comprises approximately 1.8% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 14th biggest holding. Great Lakes Retirement Inc.’s holdings in Visa were worth $10,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Hibernia Wealth Partners LLC acquired a new stake in shares of Visa during the third quarter worth about $25,000. Altshuler Shaham Ltd acquired a new stake in Visa during the 3rd quarter worth approximately $25,000. West Tower Group LLC bought a new position in Visa in the second quarter valued at approximately $30,000. Financial Freedom LLC bought a new stake in shares of Visa during the fourth quarter worth $32,000. Finally, Nalls Sherbakoff Group LLC raised its holdings in shares of Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock traded up $0.70 during mid-day trading on Thursday, hitting $279.72. 2,714,541 shares of the company’s stock traded hands, compared to its average volume of 5,597,521. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The stock has a market cap of $513.71 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 1.94 and a beta of 0.96. The firm has a 50 day simple moving average of $278.86 and a two-hundred day simple moving average of $258.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45.

Visa (NYSE:V) last posted its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.18 EPS. On average, research analysts expect that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s dividend payout ratio (DPR) is currently 23.94%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,311 shares of company stock valued at $12,832,129. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Monness Crespi & Hardt began coverage on Visa in a report on Wednesday, December 20th. They set a “neutral” rating for the company. Jefferies Financial Group lifted their target price on Visa from $280.00 to $295.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Susquehanna upped their price target on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Royal Bank of Canada lifted their price objective on shares of Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Finally, Raymond James raised their target price on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $295.82.

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.