DNB Asset Management AS Acquires 155,056 Shares of Visa Inc (NYSE:V)
DNB Asset Management AS grew its stake in Visa Inc (NYSE:V) by 25.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 760,945 shares of the credit-card processor’s stock after purchasing an additional 155,056 shares during the quarter. Visa comprises approximately 1.6% of DNB Asset Management AS’s holdings, making the stock its 11th largest holding. DNB Asset Management AS’s holdings in Visa were worth $152,166,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of V. Advisor Group Holdings Inc. acquired a new stake in shares of Visa in the 1st quarter valued at approximately $102,656,000. Nordea Investment Management AB increased its stake in Visa by 136.6% in the second quarter. Nordea Investment Management AB now owns 7,031,720 shares of the credit-card processor’s stock valued at $1,344,816,000 after purchasing an additional 4,059,677 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in Visa in the first quarter worth $536,526,000. BlackRock Inc. boosted its position in shares of Visa by 2.3% during the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after purchasing an additional 2,819,598 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Visa by 17.4% in the 1st quarter. Invesco Ltd. now owns 9,034,998 shares of the credit-card processor’s stock valued at $1,455,717,000 after buying an additional 1,335,945 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.
Shares of V opened at $200.26 on Friday. The firm has a market capitalization of $388.98 billion, a PE ratio of 38.14, a PEG ratio of 3.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The company’s 50-day moving average is $203.88 and its 200-day moving average is $191.62. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $217.35.
In related news, Director Lloyd Carney sold 1,550 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total transaction of $298,592.00. Following the transaction, the director now directly owns 2,962 shares of the company’s stock, valued at $570,599.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. In the last quarter, insiders have sold 118,122 shares of company stock worth $24,748,541. 0.19% of the stock is owned by corporate insiders.
Several analysts recently commented on V shares. Oppenheimer assumed coverage on Visa in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $202.00 price objective on the stock. Wedbush reaffirmed a “buy” rating and set a $220.00 price target on shares of Visa in a research report on Monday, October 5th. JPMorgan Chase & Co. boosted their price objective on Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Jefferies Financial Group raised their target price on shares of Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, October 2nd. Finally, Raymond James upped their price target on shares of Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Six equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus target price of $214.72.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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