New York Life Investment Management LLC Buys 1,351 Shares of Visa Inc. (NYSE:V)

New York Life Investment Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 240,242 shares of the credit-card processor’s stock after buying an additional 1,351 shares during the period. Visa makes up approximately 0.6% of New York Life Investment Management LLC’s holdings, making the stock its 24th largest holding. New York Life Investment Management LLC’s holdings in Visa were worth $63,056,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Brio Consultants LLC boosted its holdings in Visa by 39.1% during the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after acquiring an additional 437 shares during the period. Gilbert & Cook Inc. boosted its stake in shares of Visa by 2.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after purchasing an additional 158 shares during the period. Aveo Capital Partners LLC grew its holdings in shares of Visa by 9.2% in the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after purchasing an additional 235 shares during the last quarter. 9258 Wealth Management LLC increased its stake in Visa by 20.8% in the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock worth $2,094,000 after buying an additional 1,387 shares during the period. Finally, Gryphon Financial Partners LLC lifted its holdings in Visa by 53.8% during the 4th quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after buying an additional 4,774 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of V stock opened at $279.48 on Friday. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $509.30 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 1.98 and a beta of 0.96. The stock’s 50-day simple moving average is $266.53 and its 200-day simple moving average is $273.14.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Compass Point assumed coverage on Visa in a research note on Wednesday. They issued a “buy” rating and a $319.00 price objective on the stock. Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Morgan Stanley cut their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $309.54.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.