Visa Inc (V) Position Reduced by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY lessened its position in Visa Inc (NYSE:V) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 358,160 shares of the credit-card processor’s stock after selling 1,735 shares during the quarter. Visa comprises about 0.8% of Metropolitan Life Insurance Co. NY’s investment portfolio, making the stock its 17th biggest position. Metropolitan Life Insurance Co. NY’s holdings in Visa were worth $47,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fort L.P. bought a new position in shares of Visa during the 2nd quarter worth about $120,000. Cascade Investment Advisors Inc. bought a new position in shares of Visa during the 2nd quarter worth about $132,000. Bridgeworth LLC bought a new position in shares of Visa during the 2nd quarter worth about $143,000. Ruggie Capital Group bought a new position in shares of Visa during the 2nd quarter worth about $164,000. Finally, Signature Estate & Investment Advisors LLC increased its holdings in shares of Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 80.38% of the company’s stock.

Shares of NYSE V opened at $143.93 on Friday. Visa Inc has a fifty-two week low of $106.60 and a fifty-two week high of $151.56. The company has a market capitalization of $286.40 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company has a current ratio of 1.61, a quick ratio of 1.69 and a debt-to-equity ratio of 0.58.

Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.44 billion. Research analysts predict that Visa Inc will post 5.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, November 15th. This is an increase from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio is presently 18.22%.

In other Visa news, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the completion of the sale, the executive vice president now owns 296,925 shares of the company’s stock, valued at $41,355,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

A number of research firms recently weighed in on V. Loop Capital upped their target price on shares of Visa to $157.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald upped their target price on shares of Visa to $160.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. BMO Capital Markets upped their target price on shares of Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 target price on shares of Visa in a research note on Thursday, October 25th. Finally, Oppenheimer upped their target price on shares of Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $155.47.

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Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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