LGT Group Foundation Acquires 22,170 Shares of Visa Inc. (NYSE:V)

LGT Group Foundation raised its holdings in shares of Visa Inc. (NYSE:V) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,180 shares of the credit-card processor’s stock after purchasing an additional 22,170 shares during the quarter. Visa accounts for approximately 1.7% of LGT Group Foundation’s portfolio, making the stock its 15th largest position. LGT Group Foundation’s holdings in Visa were worth $106,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Peterson Financial Group Inc. bought a new stake in shares of Visa in the 3rd quarter worth $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the 4th quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter worth $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Visa in the 4th quarter worth $32,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.3 %

Shares of V opened at $361.60 on Tuesday. The business’s 50-day moving average price is $333.92 and its 200-day moving average price is $306.64. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The stock has a market cap of $671.77 billion, a PE ratio of 36.45, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating 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 analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Piper Sandler reissued an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Activity

In related news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Visa 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.