Kestra Private Wealth Services LLC raised its stake in Visa Inc. (NYSE:V – Free Report) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 195,204 shares of the credit-card processor’s stock after buying an additional 1,304 shares during the quarter. Visa makes up about 0.7% of Kestra Private Wealth Services LLC’s investment portfolio, making the stock its 20th largest holding. Kestra Private Wealth Services LLC’s holdings in Visa were worth $70,143,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Bfsg LLC lifted its holdings in Visa by 20.4% in the third quarter. Bfsg LLC now owns 607 shares of the credit-card processor’s stock worth $218,000 after purchasing an additional 103 shares during the period. DeLarme Wealth Management Inc. bought a new position in Visa in the 3rd quarter valued at about $239,000. Richardson Financial Services Inc. increased its stake in Visa by 2.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,216 shares of the credit-card processor’s stock valued at $437,000 after buying an additional 31 shares during the period. Ascent Group LLC increased its stake in Visa by 6.4% during the 3rd quarter. Ascent Group LLC now owns 51,473 shares of the credit-card processor’s stock valued at $18,496,000 after buying an additional 3,111 shares during the period. Finally, Signet Investment Advisory Group Inc. increased its stake in Visa by 1.0% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 17,700 shares of the credit-card processor’s stock valued at $6,360,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on V. Bank of America upped their price target on shares of Visa from $410.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Robert W. Baird raised their price objective on shares of Visa from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. The Goldman Sachs Group boosted their target price on Visa from $420.00 to $438.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Susquehanna set a $480.00 target price on Visa and gave the stock a “positive” rating in a report on Monday, October 26th. Finally, Loop Capital upped their target price on Visa from $387.00 to $404.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus price target of $440.03.
Get Our Latest Stock Analysis on Visa
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $6,315,722.28. This represents a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total transaction of $687,690.78. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,778,929.36. The trade was a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 quarter. Insiders own 0.12% of the company’s stock.
Key Stories Impacting Visa
Here are the key news stories impacting Visa this week:
- Positive Sentiment: Verifone has deployed Visa’s Featurespace fraud-screening technology across its payment gateways. The system assesses transactions in real time across in-store, online and mobile channels, giving Visa another opportunity to expand its fraud-prevention services; the announcements did not disclose the financial size of the deal. Article: Verifone Turns to Visa’s Featurespace to Combat Fraud
- Positive Sentiment: Visa raised its quarterly dividend from $0.67 to $0.78 per share, an increase of more than 16%. The hike signals confidence in cash generation and adds to shareholder returns, although the yield is still relatively low. Article: Visa Just Hiked Its Dividend
- Positive Sentiment: Visa’s latest reported quarter beat analyst expectations for earnings and revenue, with revenue up 13.2% year over year. That performance offers support for the growth outlook behind the dividend increase. Article: Will Earnings Beat Change Visa Stock’s Narrative
- Neutral Sentiment: Former Visa chairman and CEO Joseph Saunders, who led the company through its IPO, has died. The report is a tribute to his legacy and does not indicate an effect on Visa’s current operations. Article: Former Visa CEO Joseph Saunders Dies
- Negative Sentiment: A recent article cautioned investors about buying after Visa’s strong share-price run, noting the relatively low dividend yield. Separately, CEO Ryan McInerney sold 5,875 shares; the transaction was made under a pre-arranged trading plan, which tempers its significance as an outlook signal. Article: Visa Just Hiked Its Dividend Visa insider-trading report
Visa Price Performance
NYSE:V opened at $436.21 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $384.21 and its 200 day moving average price is $343.74. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $436.76. The firm has a market cap of $778.39 billion, a P/E ratio of 35.38, a PEG ratio of 1.79 and a beta of 0.80.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the prior year, the company earned $2.98 EPS. Visa’s revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 15.02 earnings per share for the current fiscal year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 annualized dividend and a dividend yield of 0.7%. This is an increase from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio is presently 25.30%.
About Visa
Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.
Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.
Further Reading
- Five stocks we like better than Visa
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
