New York Life Investment Management LLC Acquires 1,359 Shares of Visa Inc. $V

New York Life Investment Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 256,317 shares of the credit-card processor’s stock after purchasing an additional 1,359 shares during the quarter. Visa comprises 0.9% of New York Life Investment Management LLC’s holdings, making the stock its 21st largest holding. New York Life Investment Management LLC’s holdings in Visa were worth $91,005,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new stake in Visa in the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new position in shares of Visa during the second quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. Citigroup raised Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Finally, UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $344.53 on Friday. The business’s fifty day simple moving average is $344.94 and its 200 day simple moving average is $348.27. The firm has a market capitalization of $631.44 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. Visa Inc. has a 12 month low of $287.19 and a 12 month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $2.71 earnings per share. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is 23.11%.

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.