LGT Fund Management Co Ltd. Sells 387 Shares of Visa Inc. (NYSE:V)

LGT Fund Management Co Ltd. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,724 shares of the credit-card processor’s stock after selling 387 shares during the period. Visa comprises 3.7% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 4th largest position. LGT Fund Management Co Ltd.’s holdings in Visa were worth $41,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the fourth quarter valued at approximately $47,000. Navigoe LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $53,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of Visa during the first quarter valued at approximately $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Visa Price Performance

NYSE V opened at $335.94 on Tuesday. The company has a 50 day simple moving average of $352.21 and a 200-day simple moving average of $347.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $615.70 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Morgan Stanley boosted their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $380.84.

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.