King Luther Capital Management Corp Lowers Stock Holdings in Visa Inc. $V

King Luther Capital Management Corp lowered its position in shares of Visa Inc. (NYSE:V) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 918,356 shares of the credit-card processor’s stock after selling 7,967 shares during the period. Visa accounts for about 1.3% of King Luther Capital Management Corp’s holdings, making the stock its 18th biggest position. King Luther Capital Management Corp owned 0.05% of Visa worth $313,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Sagard Holdings Management Inc. purchased a new position in Visa in the 2nd quarter worth approximately $31,000. Bare Financial Services Inc raised its position in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 66 shares in the last quarter. Quaker Wealth Management LLC lifted its holdings in shares of Visa by 202.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 225 shares during the last quarter. Winnow Wealth LLC purchased a new position in Visa in the second quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new position in Visa in the second quarter valued at $41,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.4%

NYSE V opened at $320.63 on Thursday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The stock has a market capitalization of $581.99 billion, a PE ratio of 30.08, a PEG ratio of 1.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day moving average is $337.50 and its 200 day moving average is $339.24.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter last year, the business posted $2.75 EPS. The business’s revenue was up 14.6% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is 25.14%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on V shares. Rothschild & Co Redburn set a $385.00 price target on Visa in a research note on Wednesday, January 28th. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 price objective on shares of Visa in a report on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research note on Friday, January 30th. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $392.21.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.