Illinois Municipal Retirement Fund Raises Stock Position in Visa Inc. (NYSE:V)

Illinois Municipal Retirement Fund increased its stake in Visa Inc. (NYSE:V - Free Report) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,121 shares of the credit-card processor's stock after purchasing an additional 17,257 shares during the quarter. Visa accounts for 0.6% of Illinois Municipal Retirement Fund's portfolio, making the stock its 20th largest position. Illinois Municipal Retirement Fund's holdings in Visa were worth $41,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC raised its stake in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC raised its stake in Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after purchasing an additional 29 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock valued at $2,302,000 after acquiring an additional 30 shares during the period. Capstone Financial Advisors Inc. raised its stake in shares of Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after acquiring an additional 30 shares during the period. Finally, Headinvest LLC raised its stake in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last 90 days. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on V shares. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Trading Up 0.9%

NYSE V opened at $349.13 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock has a market capitalization of $644.20 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The firm has a 50 day moving average of $353.30 and a two-hundred day moving average of $340.01.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the previous year, the business posted $2.51 EPS. The firm's revenue was up 9.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Visa Company Profile

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.

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