8,845 Shares in Visa Inc. $V Bought by Kingdom Financial Group LLC.

Kingdom Financial Group LLC. bought a new position in shares of Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,845 shares of the credit-card processor’s stock, valued at approximately $3,141,000. Visa accounts for about 2.7% of Kingdom Financial Group LLC.’s holdings, making the stock its 8th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new position in shares of Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the second quarter worth approximately $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new position in Visa in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.5%

V opened at $320.78 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $584.37 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.97 and a beta of 0.87. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The business’s fifty day moving average is $341.36 and its two-hundred day moving average is $348.40.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 26.25%.

Insider Activity

In other news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,870 shares of company stock valued at $7,467,233 in the last 90 days. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on V. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 target price on Visa and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Barclays reissued an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Citigroup raised Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

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.