Illinois Municipal Retirement Fund Has $19.08 Million Stock Position in Visa Inc. (NYSE:V)

Illinois Municipal Retirement Fund boosted its holdings in shares of Visa Inc. (NYSE:V) by 2.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 73,271 shares of the credit-card processor’s stock after buying an additional 1,528 shares during the period. Illinois Municipal Retirement Fund’s holdings in Visa were worth $19,076,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. FMR LLC increased its position in Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Visa in the 3rd quarter worth about $358,349,000. The Manufacturers Life Insurance Company increased its holdings in shares of Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after acquiring an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Visa by 28.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock valued at $916,174,000 after acquiring an additional 871,439 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on V shares. Mizuho reissued a “neutral” rating and set a $265.00 price objective on shares of Visa in a report on Wednesday, March 27th. Robert W. Baird increased their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Evercore ISI increased their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada increased their price objective on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Finally, Wedbush increased their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $301.35.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Peter M. Andreski sold 2,615 shares of the firm’s 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 approximately $1,365,954.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,965 shares of company stock valued at $5,256,352. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $274.23 on Wednesday. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $279.49 and a two-hundred day moving average of $263.90. The company has a market capitalization of $503.63 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.88 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the prior year, the firm posted $2.18 EPS. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 9.88 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is presently 23.94%.

Visa Company 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.