State of New Jersey Common Pension Fund D Boosts Holdings in Visa Inc. (NYSE:V)

State of New Jersey Common Pension Fund D raised its stake in shares of Visa Inc. (NYSE:V) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,401 shares of the credit-card processor’s stock after purchasing an additional 29,097 shares during the quarter. Visa comprises 0.8% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 17th biggest position. State of New Jersey Common Pension Fund D’s holdings in Visa were worth $193,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Elevation Wealth Partners LLC lifted its holdings in Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares in the last quarter. Warther Private Wealth LLC lifted its holdings in Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares in the last quarter. Crescent Grove Advisors LLC lifted its holdings in Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares in the last quarter. Finally, Vicus Capital lifted its holdings in Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $354.95 on Thursday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15. The stock has a market cap of $659.42 billion, a PE ratio of 35.78, a P/E/G ratio of 2.35 and a beta of 0.97. The firm has a 50-day simple moving average of $327.75 and a two-hundred day simple moving average of $301.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

Several equities analysts have issued reports on V shares. BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Robert W. Baird increased their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Morgan Stanley raised their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $354.73.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,056 shares of company stock worth $19,830,050 over the last three months. 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.