New York Life Investment Management LLC Has $84.63 Million Stock Position in Visa Inc. $V

New York Life Investment Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,894 shares of the credit-card processor’s stock after selling 8,423 shares during the period. Visa comprises about 0.7% of New York Life Investment Management LLC’s holdings, making the stock its 22nd largest holding. New York Life Investment Management LLC’s holdings in Visa were worth $84,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of V. Beckerman Institutional LLC acquired a new stake in shares of Visa during the third quarter worth approximately $350,000. Slagle Financial LLC lifted its position in Visa by 3.9% in the 3rd quarter. Slagle Financial LLC now owns 13,586 shares of the credit-card processor’s stock worth $4,638,000 after buying an additional 505 shares in the last quarter. RFG Advisory LLC boosted its stake in shares of Visa by 9.3% during the 3rd quarter. RFG Advisory LLC now owns 15,227 shares of the credit-card processor’s stock valued at $5,198,000 after buying an additional 1,293 shares during the period. Roman Butler Fullerton & Co. grew its holdings in shares of Visa by 20.1% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 5,636 shares of the credit-card processor’s stock valued at $1,923,000 after acquiring an additional 945 shares in the last quarter. Finally, Lantz Financial LLC grew its holdings in shares of Visa by 52.6% during the 3rd quarter. Lantz Financial LLC now owns 4,028 shares of the credit-card processor’s stock valued at $1,375,000 after acquiring an additional 1,388 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $331.82 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $338.50 and a 200-day simple moving average of $340.77. The stock has a market capitalization of $602.31 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.90 and a beta of 0.79. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter last year, the firm posted $2.75 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is currently 25.14%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Visa in a research report on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $395.00 price target on shares of Visa in a research note on Friday, January 30th. Truist Financial set a $374.00 price target on Visa in a report on Tuesday, January 20th. Morgan Stanley restated an “overweight” rating and issued a $411.00 price objective (up previously from $398.00) on shares of Visa in a report on Friday, January 30th. Finally, Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price for the company in a research note on Thursday, December 11th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $392.29.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.