Klingenstein Fields & Co. LP Boosts Stake in Visa Inc. (NYSE:V)

Klingenstein Fields & Co. LP lifted its position in shares of Visa Inc. (NYSE:V) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,276 shares of the credit-card processor’s stock after acquiring an additional 31 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Visa were worth $447,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of V. Hirtle Callaghan & Co LLC increased its holdings 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 last quarter. FWL Investment Management LLC increased its holdings in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. increased its holdings in Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC increased its holdings in Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,478 shares of company stock worth $33,717,733. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of V opened at $358.70 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The stock has a market cap of $661.86 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day moving average price of $355.33 and a 200 day moving average price of $340.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the company earned $2.51 earnings per share. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio is presently 23.72%.

Analyst Ratings Changes

Several research firms recently weighed in on V. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Truist Financial began coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price for the company. Finally, Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.84.

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.