Visa Inc. $V Stock: Kestra Investment Management LLC Raises Position

Kestra Investment Management LLC increased its position in Visa Inc. (NYSE:V) by 34.4% in the third quarter, HoldingsChannel reports. The firm owned 10,173 shares of the credit-card processor’s stock after acquiring an additional 2,605 shares during the period. Kestra Investment Management LLC’s holdings in Visa were worth $3,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Beacon Capital Management LLC lifted its holdings in shares of Visa by 2.0% in the third quarter. Beacon Capital Management LLC now owns 1,283 shares of the credit-card processor’s stock valued at $461,000 after purchasing an additional 25 shares in the last quarter. Argyle Capital Partners LLC grew its holdings in shares of Visa by 0.7% during the third quarter. Argyle Capital Partners LLC now owns 3,912 shares of the credit-card processor’s stock valued at $1,406,000 after buying an additional 27 shares in the last quarter. Verus Financial Partners Inc. grew its holdings in shares of Visa by 3.7% during the third quarter. Verus Financial Partners Inc. now owns 752 shares of the credit-card processor’s stock valued at $270,000 after buying an additional 27 shares in the last quarter. Concorde Asset Management LLC grew its holdings in shares of Visa by 4.0% during the second quarter. Concorde Asset Management LLC now owns 728 shares of the credit-card processor’s stock valued at $250,000 after buying an additional 28 shares in the last quarter. Finally, Ellis Investment Partners LLC raised its position in Visa by 2.1% during the third quarter. Ellis Investment Partners LLC now owns 1,363 shares of the credit-card processor’s stock valued at $490,000 after buying an additional 28 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 0.0%

V opened at $422.46 on Tuesday. The business has a 50 day moving average of $386.67 and a 200-day moving average of $345.18. The stock has a market capitalization of $753.84 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 1.86 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $442.23.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. Visa’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.98 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 15.02 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a $0.78 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 annualized dividend and a yield of 0.7%. This is a positive change from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio (DPR) is 21.74%.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. President Capital boosted their target price on Visa from $411.00 to $474.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Morgan Stanley reiterated an “overweight” rating and set a $471.00 price target (up from $416.00) on shares of Visa in a report on Wednesday, October 28th. Piper Sandler reissued an “overweight” rating and issued a $479.00 price target (up from $430.00) on shares of Visa in a research report on Wednesday, October 28th. Argus boosted their price objective on shares of Visa from $396.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, TD Cowen restated a “buy” rating and issued a $450.00 price objective (up from $420.00) on shares of Visa in a research note on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Buy” and an average price target of $440.82.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $6,315,722.28. This represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 1,867 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total transaction of $687,690.78. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,778,929.36. This represents a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 27,395 shares of company stock worth $10,406,050 over the last 90 days. Company insiders own 0.12% of the company’s stock.

About Visa

Visa Inc operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online.

The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.

Visa traces its roots to BankAmericard, a bank card program launched in California in 1958.