KMG Fiduciary Partners LLC Acquires 13,157 Shares of Visa Inc. (NYSE:V)

KMG Fiduciary Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 89.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 27,860 shares of the credit-card processor’s stock after buying an additional 13,157 shares during the period. KMG Fiduciary Partners LLC’s holdings in Visa were worth $9,764,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Hirtle Callaghan & Co LLC raised its stake in shares of Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after buying an additional 29 shares during the period. FWL Investment Management LLC raised its stake in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after buying an additional 29 shares during the period. Elevation Wealth Partners LLC raised its stake in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after buying an additional 30 shares during the period. Warther Private Wealth LLC raised its stake in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after buying an additional 30 shares during the period. Finally, Valmark Advisers Inc. raised its stake in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after buying an additional 30 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Visa Stock Performance

NYSE V opened at $370.44 on Friday. The stock has a market cap of $683.52 billion, a PE ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $371.00. The stock has a fifty day simple moving average of $345.45 and a 200-day simple moving average of $335.70.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.51 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Visa Company Profile

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.