New York Life Investment Management LLC Has $64.94 Million Position in Visa Inc. (NYSE:V)

New York Life Investment Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 0.1% during the 4th quarter, Holdings Channel reports. The fund owned 249,450 shares of the credit-card processor’s stock after selling 215 shares during the quarter. Visa makes up approximately 0.7% of New York Life Investment Management LLC’s 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 SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GoalVest Advisory LLC grew its position in shares of Visa by 3.4% during the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after purchasing an additional 40 shares in the last quarter. Destiny Wealth Partners LLC raised its position in Visa by 2.5% during the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock valued at $433,000 after purchasing an additional 40 shares in the last quarter. Sunflower Bank N.A. lifted its stake in Visa by 1.3% during the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after purchasing an additional 41 shares during the last quarter. Parker Financial LLC boosted its holdings in shares of Visa by 4.8% in the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 42 shares in the last quarter. Finally, Patron Partners LLC increased its position in shares of Visa by 1.0% during the 4th quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock valued at $1,118,000 after purchasing an additional 42 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Mizuho reiterated a “neutral” rating and set a $265.00 target price on shares of Visa in a report on Wednesday, March 27th. Robert W. Baird lifted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. KeyCorp boosted their target price on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Finally, TD Cowen started coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Price Performance

NYSE V traded down $1.29 during mid-day trading on Wednesday, hitting $267.32. The stock had a trading volume of 6,119,515 shares, compared to its average volume of 5,938,061. The firm’s 50 day moving average is $278.98 and its 200 day moving average is $265.19. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization 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 Inc. has a twelve month low of $216.14 and a twelve month high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 53.87% and a return on equity of 51.23%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $2.09 EPS. Equities research analysts forecast that Visa Inc. will post 9.9 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, May 16th. Visa’s payout ratio is 23.24%.

About Visa

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.