Visa Inc. (NYSE:V) Holdings Lifted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its holdings in Visa Inc. (NYSE:V) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 94,000 shares of the credit-card processor’s stock after purchasing an additional 4,900 shares during the period. Visa makes up about 0.5% of Louisiana State Employees Retirement System’s portfolio, making the stock its 23rd biggest position. Louisiana State Employees Retirement System’s holdings in Visa were worth $25,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors boosted its holdings in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors boosted its holdings in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Down 0.5 %

Shares of Visa stock opened at $281.73 on Friday. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $279.02 and its 200-day simple moving average is $273.17. The company has a market cap of $515.27 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen cut their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. Finally, Bank of America raised their price objective 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. Four equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

About Visa

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.