Visa Inc. (NYSE:V) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 917,400 shares of the credit-card processor’s stock after selling 3,572 shares during the period. Visa makes up 0.8% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 16th largest holding. State of New Jersey Common Pension Fund D’s holdings in Visa were worth $238,845,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of V. GoalVest Advisory LLC lifted its stake in Visa by 3.4% in the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after acquiring an additional 40 shares in the last quarter. Destiny Wealth Partners LLC raised its stake in shares of Visa by 2.5% during the 4th quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after purchasing an additional 40 shares in the last quarter. Sunflower Bank N.A. raised its stake in shares of Visa by 1.3% in the 4th quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock valued at $818,000 after acquiring an additional 41 shares in the last quarter. Parker Financial LLC raised its stake in shares of Visa by 4.8% in the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock valued at $241,000 after acquiring an additional 42 shares in the last quarter. Finally, Patron Partners LLC grew its holdings in Visa by 1.0% in the 4th quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock valued at $1,118,000 after buying an additional 42 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V traded down $0.58 during trading on Friday, hitting $274.58. The company’s stock had a trading volume of 6,840,359 shares, compared to its average volume of 5,951,953. The firm’s 50 day moving average price is $279.32 and its two-hundred day moving average price is $264.05. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The stock has a market capitalization of $504.27 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on V shares. Macquarie raised their target price on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. Mizuho reaffirmed a “neutral” rating and issued a $265.00 target price on shares of Visa in a report on Wednesday, March 27th. Robert W. Baird lifted their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Wells Fargo & Company lifted their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Redburn Atlantic reissued a “neutral” rating and set a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

Insider Buying and Selling

In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock valued at $5,256,352 over the last three months. Company insiders own 0.19% of the company’s stock.

About Visa

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.