New York Life Investment Management LLC Cuts Stock Position in Visa Inc. (NYSE:V)

New York Life Investment Management LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 0.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 249,450 shares of the credit-card processor’s stock after selling 215 shares during the period. Visa comprises 0.7% of New York Life Investment Management LLC’s investment portfolio, making the stock its 29th biggest position. New York Life Investment Management LLC’s holdings in Visa were worth $64,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Altshuler Shaham Ltd bought a new position in shares of Visa in the third quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in Visa in the 4th quarter worth about $32,000. Valued Wealth Advisors LLC purchased a new position in Visa during the 4th quarter valued at about $37,000. Stuart Chaussee & Associates Inc. increased its position in shares of Visa by 66.2% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock valued at $61,000 after buying an additional 94 shares during the period. Finally, Macroview Investment Management LLC increased its position in shares of Visa by 1,019.2% during the third quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock valued at $67,000 after buying an additional 265 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold 19,874 shares of company stock valued at $5,506,827 in the last ninety days. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Raymond James increased their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Wedbush upped their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Wells Fargo & Company raised their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Susquehanna boosted their price target on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research note on Friday, January 26th. Finally, TD Cowen started coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Stock Performance

Shares of Visa stock traded down $1.29 during midday trading on Wednesday, hitting $267.32. The company had a trading volume of 6,119,515 shares, compared to its average volume of 5,938,061. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a fifty day simple moving average of $278.98 and a 200 day simple moving average of $265.19. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $490.94 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.87 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, analysts predict that Visa Inc. will post 9.9 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.