Norway Savings Bank Has $221,000 Stock Position in Visa Inc. (NYSE:V)
Norway Savings Bank increased its position in Visa Inc. (NYSE:V) by 96.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,012 shares of the credit-card processor’s stock after purchasing an additional 496 shares during the quarter. Norway Savings Bank’s holdings in Visa were worth $221,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Newfound Research LLC acquired a new stake in Visa in the third quarter worth about $31,000. Brand Asset Management Group Inc. grew its position in shares of Visa by 52.7% during the 3rd quarter. Brand Asset Management Group Inc. now owns 258 shares of the credit-card processor’s stock worth $52,000 after buying an additional 89 shares during the period. Catalyst Private Wealth LLC acquired a new position in shares of Visa during the 3rd quarter worth about $59,000. TFC Financial Management acquired a new position in shares of Visa during the 3rd quarter worth about $65,000. Finally, ELM Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth about $73,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.
Visa stock opened at $209.35 on Thursday. Visa Inc. has a 12 month low of $133.93 and a 12 month high of $220.39. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $211.56 and its 200 day simple moving average is $202.74. The company has a market cap of $407.94 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 2.59 and a beta of 0.91.
In other Visa news, insider Rajat Taneja sold 60,048 shares of the business’s stock in a transaction on Wednesday, December 30th. The shares were sold at an average price of $220.00, for a total transaction of $13,210,560.00. Following the sale, the insider now owns 310,904 shares of the company’s stock, valued at approximately $68,398,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $182.53, for a total transaction of $1,642,770.00. Following the sale, the chief executive officer now directly owns 120,090 shares in the company, valued at approximately $21,920,027.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,205 shares of company stock worth $17,188,463. 0.19% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on V shares. Credit Suisse Group decreased their target price on Visa from $235.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Seaport Global Securities started coverage on Visa in a report on Monday, December 7th. They set a “buy” rating and a $250.00 price objective on the stock. Wedbush restated a “buy” rating and issued a $220.00 target price on shares of Visa in a research note on Monday, October 5th. Piper Sandler boosted their price target on Visa from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $243.00 price target on shares of Visa in a research report on Sunday, October 11th. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average target price of $220.41.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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