Kane Investment Management Inc. Takes $1.72 Million Position in Visa Inc. (NYSE:V)

Kane Investment Management Inc. purchased a new stake in Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,448 shares of the credit-card processor’s stock, valued at approximately $1,722,000. Visa makes up about 1.0% of Kane Investment Management Inc.’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds also recently added to or reduced their stakes in V. AGP Franklin LLC acquired a new stake in Visa during the 4th quarter valued at $2,657,000. Guggenheim Capital LLC increased its position in shares of Visa by 5.0% during the fourth quarter. Guggenheim Capital LLC now owns 262,634 shares of the credit-card processor’s stock worth $83,003,000 after acquiring an additional 12,459 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Visa in the fourth quarter worth about $1,023,000. Chiron Investment Management LLC acquired a new stake in Visa during the 4th quarter valued at approximately $4,208,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Visa in the 4th quarter valued at approximately $91,428,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.6 %

Shares of NYSE:V opened at $335.27 on Tuesday. The stock has a market capitalization of $622.86 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a 50 day moving average price of $342.12 and a 200 day moving average price of $319.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating 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%. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $2,930,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,842,490 over the last quarter. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on V shares. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. UBS Group upped their price objective on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. The Goldman Sachs Group boosted their target price on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $355.84.

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.