New York Life Investment Management LLC Boosts Stake in Visa Inc. (NYSE:V)

New York Life Investment Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 0.6% during the second quarter, Holdings Channel.com reports. The fund owned 240,242 shares of the credit-card processor’s stock after buying an additional 1,351 shares during the period. Visa comprises approximately 0.6% of New York Life Investment Management LLC’s holdings, making the stock its 24th biggest position. New York Life Investment Management LLC’s holdings in Visa were worth $63,056,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Finally, Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Trading Up 0.3 %

Shares of Visa stock opened at $279.48 on Friday. The stock has a 50 day moving average of $266.53 and a 200 day moving average of $273.14. 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. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given 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 of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

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.