Visa Inc. $V Stock Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 34.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,173 shares of the credit-card processor’s stock after purchasing an additional 2,605 shares during the quarter. Kestra Investment Management LLC’s holdings in Visa were worth $3,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. John Boyer Inc. bought a new stake in Visa in the 3rd quarter valued at about $27,000. Philadelphia Investment Partners LLC bought a new position in Visa in the 2nd quarter worth about $29,000. Virtus Advisers LLC bought a new position in Visa in the 2nd quarter worth about $33,000. Robinswood Financial LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $35,000. Finally, Portfolio Resources Advisor Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on V. Argus boosted their price objective on Visa from $396.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Mizuho set a $440.00 target price on Visa in a research report on Thursday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $445.00 target price on shares of Visa in a research note on Wednesday, October 28th. Truist Financial boosted their price target on Visa from $443.00 to $470.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. Finally, The Goldman Sachs Group boosted their price target on Visa from $420.00 to $438.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $440.82.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,028 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. This trade represents a 9.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Friday, August 21st. The stock was sold at an average price of $367.87, for a total value of $2,161,236.25. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,582,059.38. The trade was a 27.91% decrease in their ownership of the stock. 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 27,395 shares of company stock worth $10,406,050 in the last ninety days. 0.12% of the stock is owned by corporate insiders.

Visa Stock Performance

NYSE:V opened at $422.46 on Tuesday. The company has a 50-day moving average of $386.67 and a 200-day moving average of $345.18. The firm has a market cap of $753.84 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth 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 twelve month low of $293.89 and a twelve month high of $442.23.

Visa (NYSE:V) last released its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping 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 business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period in the previous year, the firm earned $2.98 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts forecast that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm 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. 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. The ex-dividend date is Tuesday, November 10th. Visa’s dividend payout ratio (DPR) is presently 21.74%.

Visa Company Profile

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.