Kingsview Wealth Management LLC Decreases Stake in Visa Inc. (NYSE:V)

Kingsview Wealth Management LLC cut its holdings in Visa Inc. (NYSE:V) by 59.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,250 shares of the credit-card processor’s stock after selling 87,928 shares during the period. Kingsview Wealth Management LLC’s holdings in Visa were worth $21,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of V. Hirtle Callaghan & Co LLC boosted its holdings in Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC boosted its stake in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after acquiring an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. grew its position in Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock worth $276,000 after purchasing an additional 30 shares during the last quarter. Headinvest LLC boosted its holdings in shares of Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after acquiring an additional 30 shares in the last quarter. Finally, Kennebec Savings Bank lifted its stake in shares of Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock valued at $1,182,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company’s stock.

Visa Trading Up 0.0%

Shares of Visa stock opened at $350.01 on Friday. The firm has a market cap of $645.82 billion, a PE ratio of 35.18, a PEG ratio of 2.37 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. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The company has a 50 day simple moving average of $356.90 and a two-hundred day simple moving average of $343.40.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.51 EPS. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa’s payout ratio is currently 23.72%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Piper Sandler increased their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Mizuho raised Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $375.52.

Visa 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.