Police & Firemen s Retirement System of New Jersey Raises Stock Holdings in Visa Inc. $V

Police & Firemen s Retirement System of New Jersey raised its stake in shares of Visa Inc. (NYSE:V) by 3.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 258,620 shares of the credit-card processor’s stock after acquiring an additional 7,606 shares during the period. Visa makes up approximately 0.9% of Police & Firemen s Retirement System of New Jersey’s holdings, making the stock its 13th biggest position. Police & Firemen s Retirement System of New Jersey’s holdings in Visa were worth $91,823,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in V. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after acquiring an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new stake in Visa in the second quarter worth $862,000. Iron Gate Global Advisors LLC grew its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after acquiring an additional 3,484 shares in the last quarter. Finally, NatWest Group plc increased its position in Visa by 43.8% during the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after acquiring an additional 13,912 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Trading Up 0.0%

V opened at $339.00 on Thursday. The business’s 50 day moving average is $342.72 and its two-hundred day moving average is $348.78. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The firm has a market cap of $621.32 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the firm posted $2.71 EPS. Visa’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 23.11%.

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.