Visa Inc. (NYSE:V) Shares Purchased by Norden Group LLC

Norden Group LLC raised its position in Visa Inc. (NYSE:V) by 3,090.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,976 shares of the credit-card processor’s stock after purchasing an additional 399,064 shares during the quarter. Visa comprises 1.3% of Norden Group LLC’s investment portfolio, making the stock its 12th biggest position. Norden Group LLC’s holdings in Visa were worth $114,975,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in V. Capital International Investors increased its position in shares of Visa by 2.7% during the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after purchasing an additional 596,950 shares during the last quarter. Capital World Investors boosted its stake in Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after buying an additional 1,323,238 shares during the period. Norges Bank acquired a new stake in shares of Visa during the fourth quarter valued at about $3,895,015,000. Jennison Associates LLC raised its stake in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Visa by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock worth $2,725,079,000 after acquiring an additional 141,566 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several research reports. Macquarie lifted their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Citigroup increased their target price on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, TD Cowen assumed coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Price Performance

Shares of NYSE V opened at $268.99 on Friday. The stock’s 50-day simple moving average is $273.45 and its 200-day simple moving average is $273.65. The firm has a market capitalization of $491.97 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is presently 23.24%.

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.