Municipal Employees Retirement System of Michigan lowered its position in Visa Inc (NYSE:V) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,320 shares of the credit-card processor’s stock after selling 13,150 shares during the quarter. Visa accounts for approximately 0.4% of Municipal Employees Retirement System of Michigan’s holdings, making the stock its 17th biggest holding. Municipal Employees Retirement System of Michigan’s holdings in Visa were worth $8,243,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares in the last quarter. BlackRock Inc. increased its position in Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after purchasing an additional 1,440,034 shares in the last quarter. Jennison Associates LLC increased its position in Visa by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after purchasing an additional 209,764 shares in the last quarter. Fisher Asset Management LLC increased its position in Visa by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after purchasing an additional 355,320 shares in the last quarter. Finally, Capital Research Global Investors increased its position in Visa by 20.3% during the 2nd quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after purchasing an additional 1,919,732 shares in the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.

Visa Inc (V) opened at $122.70 on Monday. The company has a market capitalization of $278,060.00, a P/E ratio of 43.82, a P/E/G ratio of 1.79 and a beta of 0.99. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. Visa Inc has a 52-week low of $81.50 and a 52-week high of $123.65.

Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the business earned $0.78 EPS. Visa’s revenue for the quarter was up 13.9% compared to the same quarter last year. analysts predict that Visa Inc will post 4.08 earnings per share for the current fiscal year.

In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the sale, the executive vice president now owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock worth $6,597,262 over the last 90 days. 0.14% of the stock is owned by company insiders.

A number of research firms recently commented on V. Cowen reiterated a “buy” rating and set a $129.00 price objective on shares of Visa in a research report on Friday, January 12th. Citigroup reissued a “buy” rating and issued a $136.00 price target (up from $124.00) on shares of Visa in a research note on Friday, January 12th. Wells Fargo & Co reissued an “outperform” rating and issued a $135.00 price target (up from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Stephens reissued a “buy” rating and issued a $135.00 price target on shares of Visa in a research note on Wednesday, January 10th. Finally, Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $121.05 price target on the stock. in a research note on Monday, January 8th. Four investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $122.03.

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About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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