Danica Pension Livsforsikringsaktieselskab Buys Shares of 91,717 Visa Inc. $V

Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Visa Inc. (NYSE:V) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 91,717 shares of the credit-card processor’s stock, valued at approximately $27,721,000.

A number of other hedge funds have also modified their holdings of V. Clayton Financial Group LLC lifted its holdings in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after buying an additional 58 shares during the last quarter. Parvin Asset Management LLC increased its holdings in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares during the last quarter. PayPay Securities Corp increased its holdings in Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 38 shares during the last quarter. Cresta Advisors Ltd. bought a new position in Visa during the fourth quarter valued at approximately $26,000. Finally, Dorato Capital Management bought a new position in Visa during the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on V shares. Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and set a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Piper Sandler started coverage on shares of Visa in a report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective for the company. Finally, Barclays initiated coverage on shares of Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price on the stock. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $398.36.

Visa Stock Down 1.3%

V opened at $355.94 on Wednesday. The firm has a market cap of $638.47 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.92 and a beta of 0.75. 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 business has a 50 day moving average price of $335.74 and a 200 day moving average price of $325.08. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.14.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the company posted $2.76 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 13.13 EPS for the current year.

Visa declared that its board has authorized a stock repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Visa Announces Dividend

The company also recently announced 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 dividend payout ratio (DPR) is presently 23.34%.

Visa Company 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.