16,362,710 Shares in Visa Inc. (NYSE:V) Bought by Norges Bank

Norges Bank purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,362,710 shares of the credit-card processor's stock, valued at approximately $5,171,271,000. Visa makes up approximately 0.7% of Norges Bank's holdings, making the stock its 20th largest holding. Norges Bank owned about 0.88% of Visa as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in V. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after buying an additional 32 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $32,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,991,249.33. The trade was a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock worth $48,560,961 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

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Visa Stock Down 2.1 %

Shares of NYSE V traded down $7.24 during mid-day trading on Friday, reaching $342.62. 5,686,669 shares of the company's stock traded hands, compared to its average volume of 7,140,541. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day simple moving average of $343.60 and a 200 day simple moving average of $315.27. The stock has a market cap of $636.51 billion, a P/E ratio of 34.54, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V - Get Free Report) last posted 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 net margin of 54.27% and a return on equity of 54.79%. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's payout ratio is presently 23.79%.

Analyst Ratings Changes

Several research analysts have issued reports on V shares. JPMorgan Chase & Co. upped their price objective on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Finally, Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Five 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $355.84.

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.