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

Norden Group LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 3,090.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 411,976 shares of the credit-card processor’s stock after purchasing an additional 399,064 shares during the quarter. Visa accounts for about 1.3% of Norden Group LLC’s investment portfolio, making the stock its 12th largest holding. Norden Group LLC’s holdings in Visa were worth $114,975,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of V. Jackson Wealth Management LLC grew its position in Visa by 2.5% in the third quarter. Jackson Wealth Management LLC now owns 12,637 shares of the credit-card processor’s stock valued at $2,907,000 after acquiring an additional 312 shares in the last quarter. JT Stratford LLC grew its position in shares of Visa by 13.7% during the third quarter. JT Stratford LLC now owns 8,472 shares of the credit-card processor’s stock worth $1,949,000 after buying an additional 1,020 shares in the last quarter. Seven Eight Capital LP grew its position in shares of Visa by 46.7% during the third quarter. Seven Eight Capital LP now owns 13,222 shares of the credit-card processor’s stock worth $3,041,000 after buying an additional 4,210 shares in the last quarter. Scotia Capital Inc. grew its position in shares of Visa by 0.6% during the third quarter. Scotia Capital Inc. now owns 1,341,142 shares of the credit-card processor’s stock worth $308,492,000 after buying an additional 8,181 shares in the last quarter. Finally, Sandler Capital Management grew its position in shares of Visa by 24.4% during the third quarter. Sandler Capital Management now owns 26,298 shares of the credit-card processor’s stock worth $6,049,000 after buying an additional 5,160 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Mizuho raised their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Citigroup raised their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group raised their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler started coverage on Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.56.

Visa Price Performance

Shares of NYSE V opened at $268.99 on Friday. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The company has a market capitalization of $491.97 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95. The firm has a 50-day moving average of $273.45 and a two-hundred day moving average of $273.65. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

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

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, 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 completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, 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 value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Corporate insiders own 0.19% 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.