State of New Jersey Common Pension Fund D Has $204.55 Million Holdings in Visa Inc. $V

State of New Jersey Common Pension Fund D lifted its stake in Visa Inc. (NYSE:V) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 599,174 shares of the credit-card processor’s stock after acquiring an additional 15,699 shares during the period. Visa makes up 0.8% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 17th largest holding. State of New Jersey Common Pension Fund D’s holdings in Visa were worth $204,546,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Visa during the second quarter valued at about $7,034,939,000. TCI Fund Management Ltd. grew its position in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after buying an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC increased its stake in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares during the period. Vanguard Group Inc. raised its holdings in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. UBS Group restated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Evercore set a $380.00 target price on shares of Visa in a research report on Friday, December 12th. Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target for the company in a research report on Monday, February 2nd. Finally, Piper Sandler set a $160.00 price objective on Visa in a report on Wednesday, January 28th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $392.21.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by corporate insiders.

Visa Price Performance

NYSE:V opened at $314.13 on Friday. The firm has a market cap of $570.19 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $337.98 and its two-hundred day moving average price is $339.81.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business posted $2.75 earnings per share. The company’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is presently 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.