KLP Kapitalforvaltning AS Buys New Stake in Visa Inc. (NYSE:V)

KLP Kapitalforvaltning AS bought a new position in shares of Visa Inc. (NYSE:V) in the 4th quarter, Holdings Channel reports. The fund bought 686,662 shares of the credit-card processor’s stock, valued at approximately $217,013,000. Visa makes up 1.0% of KLP Kapitalforvaltning AS’s holdings, making the stock its 12th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Riverstone Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at $217,000. Journey Strategic Wealth LLC increased its position in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. King Wealth Management Group grew its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Visa during the 4th quarter valued at about $10,163,000. Finally, Copley Financial Group Inc. bought a new position in Visa in the 3rd quarter worth about $616,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $8,991,249.33. This represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $194,931. This represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

NYSE:V opened at $336.51 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $625.15 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The business’s 50-day moving average is $340.48 and its 200 day moving average is $312.82.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s dividend payout ratio is 23.79%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on V shares. Bank of America increased their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Citigroup restated a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Barclays raised their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.96.

About Visa

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.