Visa Inc (NYSE:V) Stake Increased by DNB Asset Management AS

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DNB Asset Management AS increased its holdings in shares of Visa Inc (NYSE:V) by 25.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,945 shares of the credit-card processor’s stock after buying an additional 155,056 shares during the quarter. Visa accounts for approximately 1.6% of DNB Asset Management AS’s holdings, making the stock its 11th biggest position. DNB Asset Management AS’s holdings in Visa were worth $152,166,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Ridgewood Investments LLC acquired a new stake in Visa during the 2nd quarter worth about $239,000. Wills Financial Group Inc. lifted its position in shares of Visa by 3.4% in the second quarter. Wills Financial Group Inc. now owns 31,441 shares of the credit-card processor’s stock worth $6,074,000 after purchasing an additional 1,023 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. boosted its holdings in shares of Visa by 4.1% during the third quarter. Taylor Cottrill Erickson & Associates Inc. now owns 3,160 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 125 shares during the period. Whittier Trust Co. grew its position in Visa by 5.0% during the second quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock valued at $82,917,000 after purchasing an additional 20,413 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC increased its stake in Visa by 5.3% in the 2nd quarter. Douglass Winthrop Advisors LLC now owns 56,805 shares of the credit-card processor’s stock valued at $10,973,000 after buying an additional 2,855 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on V. Jefferies Financial Group boosted their price target on shares of Visa from $185.00 to $205.00 and gave the company a “hold” rating in a report on Friday, October 2nd. Wells Fargo & Company boosted their target price on Visa from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Raymond James raised their price target on Visa from $204.00 to $217.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Goldman Sachs Group initiated coverage on Visa in a research note on Tuesday, July 14th. They issued a “buy” rating and a $223.00 price target for the company. Finally, Bank of America raised their price objective on shares of Visa from $227.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $214.72.

NYSE V opened at $200.26 on Friday. Visa Inc has a twelve month low of $133.93 and a twelve month high of $217.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $388.98 billion, a PE ratio of 38.14, a P/E/G ratio of 3.05 and a beta of 0.90. The stock has a 50-day simple moving average of $203.88 and a 200 day simple moving average of $191.62.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business posted $1.37 EPS. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc will post 5.01 EPS for the current fiscal year.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the transaction, the chief executive officer now directly owns 130,090 shares in the company, valued at $25,367,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total value of $298,592.00. Following the completion of the transaction, the director now directly owns 2,962 shares of the company’s stock, valued at approximately $570,599.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,122 shares of company stock worth $24,748,541. 0.19% of the stock is currently owned by corporate insiders.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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