Visa Inc. $V Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 SEC filing.

A number of other hedge funds have also added to or reduced their stakes in V. John Boyer Inc. bought a new stake in Visa during the 3rd quarter worth about $27,000. Philadelphia Investment Partners LLC acquired a new position in shares of Visa during the 2nd quarter worth about $29,000. Virtus Advisers LLC acquired a new position in shares of Visa during the 2nd quarter worth about $33,000. Portfolio Resources Advisor Group Inc. bought a new position in shares of Visa in the 3rd quarter valued at about $35,000. Finally, DecisionPoint Financial LLC grew its holdings in shares of Visa by 307.7% in the 3rd quarter. DecisionPoint Financial LLC now owns 106 shares of the credit-card processor’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Key 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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on V. Raymond James Financial reaffirmed an “outperform” rating and issued a $445.00 target price on shares of Visa in a research report on Wednesday, October 28th. Morgan Stanley reissued an “overweight” rating and issued a $471.00 price objective (up from $416.00) on shares of Visa in a report on Wednesday, October 28th. Truist Financial raised their target price on shares of Visa from $443.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $430.00 target price on shares of Visa in a report on Wednesday, July 29th. Finally, Evercore set a $405.00 price target on shares of Visa in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $442.29.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $6,315,722.28. The trade was a 27.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $423.00, for a total value of $789,741.00. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $7,784,892. This represents a 9.21% 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. Insiders have sold 29,262 shares of company stock valued at $11,195,791 over the last 90 days. Company insiders own 0.12% of the company’s stock.

Visa Stock Performance

NYSE V opened at $422.95 on Wednesday. The firm has a 50-day moving average of $387.55 and a 200-day moving average of $345.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $754.72 billion, a PE ratio of 34.30, a P/E/G ratio of 1.80 and a beta of 0.80. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $442.23.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping the consensus estimate of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the firm posted $2.98 EPS. Visa’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 15.02 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. 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. The ex-dividend date is Tuesday, November 10th. Visa’s dividend payout ratio (DPR) is 25.30%.

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.