New York State Common Retirement Fund Sells 191,387 Shares of Visa Inc. (NYSE:V)

New York State Common Retirement Fund cut its holdings in shares of Visa Inc. (NYSE:V) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,319,309 shares of the credit-card processor’s stock after selling 191,387 shares during the period. Visa comprises approximately 0.8% of New York State Common Retirement Fund’s investment portfolio, making the stock its 14th biggest position. New York State Common Retirement Fund owned 0.13% of Visa worth $603,832,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in shares of Visa in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the 4th quarter valued at $32,000. Nalls Sherbakoff Group LLC increased its holdings in Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the period. Valued Wealth Advisors LLC acquired a new stake in Visa in the fourth quarter valued at $37,000. Finally, Macroview Investment Management LLC increased its holdings in Visa by 1,019.2% in the third quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock valued at $67,000 after purchasing an additional 265 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup increased their price target on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Oppenheimer raised their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Finally, TD Cowen started coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.35.

Visa Trading Up 0.7 %

Shares of V stock opened at $274.23 on Wednesday. The company has a 50 day moving average of $279.49 and a 200-day moving average of $263.90. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The firm has a market cap of $503.63 billion, a P/E ratio of 31.56, a PEG ratio of 1.88 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the business earned $2.18 EPS. Visa’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is 23.94%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,965 shares of company stock worth $5,256,352. Corporate insiders own 0.19% of the company’s stock.

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.