LGT Fund Management Co Ltd. Has $37.33 Million Stake in Visa Inc. (NYSE:V)

LGT Fund Management Co Ltd. increased its position in shares of Visa Inc. (NYSE:V) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,111 shares of the credit-card processor’s stock after buying an additional 3,133 shares during the quarter. Visa accounts for about 3.3% of LGT Fund Management Co Ltd.’s portfolio, making the stock its 6th biggest holding. LGT Fund Management Co Ltd.’s holdings in Visa were worth $37,328,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC lifted its holdings in Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after purchasing an additional 30 shares during the last quarter. Warther Private Wealth LLC lifted its holdings in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. lifted its holdings in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after purchasing an additional 30 shares during the last quarter. Crescent Grove Advisors LLC lifted its holdings in Visa by 2.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after purchasing an additional 31 shares during the last quarter. Finally, Vicus Capital lifted its holdings in Visa by 3.1% during the 4th quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock worth $326,000 after purchasing an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 0.3 %

Shares of V opened at $361.60 on Tuesday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market capitalization of $671.77 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day moving average of $333.92 and a 200-day moving average of $306.64.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated 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 sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock valued at $19,161,447 in the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on V shares. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. UBS Group upped their target price on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Citigroup restated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Barclays upped their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.