New York State Common Retirement Fund Buys 50,605 Shares of Visa Inc. (NYSE:V)

New York State Common Retirement Fund lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,227,737 shares of the credit-card processor's stock after acquiring an additional 50,605 shares during the quarter. Visa accounts for 1.1% of New York State Common Retirement Fund's portfolio, making the stock its 13th largest holding. New York State Common Retirement Fund owned 0.12% of Visa worth $780,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of V. von Borstel & Associates Inc. purchased a new position in shares of Visa during the 1st quarter valued at $27,000. Sellwood Investment Partners LLC bought a new position in shares of Visa in the fourth quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. bought a new stake in Visa during the 4th quarter valued at approximately $47,000. Measured Risk Portfolios Inc. bought a new position in Visa during the fourth quarter worth $47,000. Finally, Navigoe LLC acquired a new position in shares of Visa during the fourth quarter valued at about $53,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on V. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Visa in a report on Friday, June 13th. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. Finally, Macquarie lowered their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and an average price target of $372.84.

Visa Stock Up 0.7%

Visa stock traded up $2.52 during midday trading on Monday, reaching $350.45. The stock had a trading volume of 5,598,849 shares, compared to its average volume of 6,693,063. The stock has a market capitalization of $646.63 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The firm's fifty day simple moving average is $356.93 and its 200-day simple moving average is $342.86. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio is 23.72%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 in the last quarter. Corporate insiders own 0.13% of the company's stock.

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.