State of Alaska Department of Revenue Grows Stake in Visa Inc. (NYSE:V)

State of Alaska Department of Revenue boosted its stake in Visa Inc. (NYSE:V) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,170 shares of the credit-card processor’s stock after purchasing an additional 19,115 shares during the quarter. Visa comprises approximately 0.6% of State of Alaska Department of Revenue’s holdings, making the stock its 20th largest holding. State of Alaska Department of Revenue’s holdings in Visa were worth $54,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of V. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC boosted its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Abich Financial Wealth Management LLC grew its stake in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter worth approximately $35,000. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the second quarter valued at approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on V shares. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Morgan Stanley restated an “overweight” rating and set a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Bank of America raised their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Visa Price Performance

V stock opened at $281.73 on Monday. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $513.40 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The business has a fifty day moving average of $279.02 and a two-hundred day moving average of $273.16.

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.