New Mexico Educational Retirement Board Sells 1,500 Shares of Visa Inc. (NYSE:V)

New Mexico Educational Retirement Board lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,734 shares of the credit-card processor's stock after selling 1,500 shares during the quarter. Visa makes up approximately 1.0% of New Mexico Educational Retirement Board's holdings, making the stock its 13th biggest holding. New Mexico Educational Retirement Board's holdings in Visa were worth $28,294,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Twelve Points Wealth Management LLC increased its position in Visa by 1.2% in the 1st quarter. Twelve Points Wealth Management LLC now owns 5,246 shares of the credit-card processor's stock valued at $1,838,000 after acquiring an additional 61 shares in the last quarter. Court Place Advisors LLC increased its position in Visa by 5.1% in the 1st quarter. Court Place Advisors LLC now owns 3,945 shares of the credit-card processor's stock valued at $1,383,000 after acquiring an additional 192 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Visa by 4.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 15,546 shares of the credit-card processor's stock valued at $5,448,000 after acquiring an additional 639 shares in the last quarter. Slagle Financial LLC increased its position in Visa by 0.5% in the 1st quarter. Slagle Financial LLC now owns 6,857 shares of the credit-card processor's stock valued at $2,403,000 after acquiring an additional 35 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in Visa by 103.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,026 shares of the credit-card processor's stock valued at $343,000 after acquiring an additional 522 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on V shares. Macquarie lowered their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Truist Financial started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $372.84.

Visa Stock Down 2.3%

V traded down $8.17 on Friday, hitting $347.71. 7,577,927 shares of the company were exchanged, compared to its average volume of 6,822,520. The company has a market cap of $641.58 billion, a PE ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92. 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 12 month low of $252.70 and a 12 month high of $375.51. The stock's fifty day moving average is $356.93 and its 200-day moving average is $342.86.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated 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 directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company's stock.

Visa 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.