Visa Inc. $V Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Visa Inc. (NYSE:V) by 3.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 496,635 shares of the credit-card processor’s stock after acquiring an additional 14,611 shares during the period. Visa comprises about 1.5% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 10th biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Visa were worth $146,017,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Visa in the 4th quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. increased its position in shares of Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after purchasing an additional 7,364,762 shares during the period. J. Stern & Co. LLP raised its stake in shares of Visa by 12,497.1% in the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after purchasing an additional 3,351,223 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Visa by 48.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after purchasing an additional 2,116,463 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Visa by 110.4% in the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after purchasing an additional 2,075,289 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.2%

Shares of NYSE:V opened at $327.78 on Tuesday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $359.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average is $321.61 and its 200-day moving average is $324.18. The company has a market capitalization of $587.96 billion, a PE ratio of 28.55, a P/E/G ratio of 1.75 and a beta of 0.77.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter last year, the company posted $2.76 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

Visa announced that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Bank of America initiated coverage on shares of Visa in a report on Thursday, March 5th. They set a “buy” rating and a $410.00 price objective for the company. Raymond James Financial reissued an “outperform” rating and issued a $389.00 target price on shares of Visa in a research note on Wednesday, April 29th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $387.78.

Insider Activity at Visa

In related news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa 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.