Visa Inc. $V Stock Holdings Increased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. raised its stake in Visa Inc. (NYSE:V) by 61.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,929 shares of the credit-card processor’s stock after buying an additional 72,837 shares during the quarter. Visa comprises about 2.5% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 10th biggest holding. LGT Fund Management Co Ltd.’s holdings in Visa were worth $57,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of V. Clayton Financial Group LLC lifted its holdings in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. PayPay Securities Corp increased its holdings in Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new stake in Visa in the 4th quarter valued at approximately $26,000. Parvin Asset Management LLC raised its position in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management purchased a new stake in Visa in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s 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 sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were 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 owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,581 shares of company stock worth $25,627,975 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

V stock opened at $349.05 on Monday. The business’s 50-day moving average is $330.81 and its two-hundred day moving average is $324.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $626.12 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.86 and a beta of 0.75. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.02.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the company posted $2.76 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa announced that its board has authorized a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

V has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Citigroup cut their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Morgan Stanley reissued an “overweight” rating and set a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Piper Sandler began coverage on Visa in a report on Monday, June 29th. They set an “overweight” rating and a $394.00 target price for the company. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 target price on shares of Visa in a research report on Tuesday, June 2nd. Seven analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Buy” and an average price target of $397.91.

About Visa

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.