State of New Jersey Common Pension Fund D Sells 3,572 Shares of Visa Inc. (NYSE:V)

State of New Jersey Common Pension Fund D decreased its position in Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 917,400 shares of the credit-card processor’s stock after selling 3,572 shares during the period. Visa accounts for 0.8% of State of New Jersey Common Pension Fund D’s investment portfolio, making the stock its 16th biggest 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 quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new stake in shares of Visa during the 3rd quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in Visa in the 4th quarter valued at $32,000. Nalls Sherbakoff Group LLC lifted its holdings in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after acquiring an additional 120 shares during the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Visa during the 4th quarter worth $37,000. Finally, Macroview Investment Management LLC lifted its stake in Visa by 1,019.2% in the third quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock worth $67,000 after purchasing an additional 265 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock traded down $0.58 during midday trading on Friday, reaching $274.58. 6,840,359 shares of the company traded hands, compared to its average volume of 5,951,953. The firm 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. The business has a 50 day moving average of $279.32 and a two-hundred day moving average of $264.05. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group boosted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Susquehanna boosted their price objective on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Citigroup boosted their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $302.58.

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.