Kestra Private Wealth Services LLC Raises Stock Holdings in Visa Inc. (NYSE:V)

Kestra Private Wealth Services LLC raised its stake in Visa Inc. (NYSE:V) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,903 shares of the credit-card processor’s stock after buying an additional 9,260 shares during the quarter. Visa comprises about 0.9% of Kestra Private Wealth Services LLC’s portfolio, making the stock its 17th biggest holding. Kestra Private Wealth Services LLC’s holdings in Visa were worth $55,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in V. State Street Corp grew its position in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC boosted its stake in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the period. Geode Capital Management LLC grew its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Visa by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after buying an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after buying an additional 670,590 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V opened at $350.88 on Wednesday. Visa Inc. has a one year low of $252.70 and a one year high of $352.12. The stock has a market capitalization of $651.85 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 2.32 and a beta of 0.97. The company has a 50-day simple moving average of $321.77 and a 200-day simple moving average of $296.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, analysts predict that Visa Inc. will post 11.27 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio is currently 23.79%.

Insiders Place Their Bets

In other news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,056 shares of company stock worth $19,830,050. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on V. The Goldman Sachs Group boosted their price target on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on Visa from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.73.

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.