Visa Inc. $V Stake Increased by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in Visa Inc. (NYSE:V) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 253,183 shares of the credit-card processor’s stock after purchasing an additional 5,573 shares during the quarter. New York Life Investment Management LLC’s holdings in Visa were worth $90,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of V. Bank Pictet & Cie Europe AG raised its position in shares of Visa by 0.9% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 606,500 shares of the credit-card processor’s stock valued at $217,934,000 after buying an additional 5,568 shares in the last quarter. CFC Planning Co LLC boosted its position in shares of Visa by 13.7% during the 3rd quarter. CFC Planning Co LLC now owns 13,305 shares of the credit-card processor’s stock worth $4,781,000 after acquiring an additional 1,607 shares in the last quarter. Vega Investment Solutions acquired a new stake in shares of Visa during the 2nd quarter worth approximately $829,000. Brooklands Fund Management Ltd bought a new position in Visa in the third quarter valued at approximately $5,291,000. Finally, XXEC Inc. increased its stake in Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on V shares. Wells Fargo & Company boosted their price objective on shares of Visa from $432.00 to $463.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Barclays upped their target price on Visa from $420.00 to $440.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Daiwa Securities Group raised their target price on Visa from $375.00 to $422.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Argus lifted their price target on Visa from $396.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $466.00 price target on shares of Visa in a research note on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $442.29.

Visa Trading Up 0.2%

Shares of V stock opened at $422.95 on Wednesday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $442.23. The stock’s fifty day simple moving average is $387.55 and its 200 day simple moving average is $345.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $754.72 billion, a P/E ratio of 34.30, a P/E/G ratio of 1.80 and a beta of 0.80.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $2.98 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 15.02 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be given a dividend of $0.78 per share. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 annualized dividend and a yield of 0.7%. This is a boost from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio is 25.30%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 1,867 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $423.00, for a total transaction of $789,741.00. Following the completion of the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $7,784,892. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $6,315,722.28. This trade represents a 27.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,262 shares of company stock worth $11,195,791. 0.12% of the stock is owned by corporate insiders.

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Visa Company Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.