KKM Financial LLC Buys 530 Shares of Visa Inc. (NYSE:V)

KKM Financial LLC increased its stake in Visa Inc. (NYSE:V) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,223 shares of the credit-card processor’s stock after buying an additional 530 shares during the quarter. Visa comprises approximately 1.4% of KKM Financial LLC’s holdings, making the stock its 25th largest holding. KKM Financial LLC’s holdings in Visa were worth $2,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. WFA Asset Management Corp increased its stake in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 100 shares during the period. Bamco Inc. NY grew its stake in Visa by 12.3% in the first quarter. Bamco Inc. NY now owns 190,107 shares of the credit-card processor’s stock worth $53,055,000 after purchasing an additional 20,786 shares in the last quarter. London & Capital Asset Management Ltd increased its holdings in Visa by 2.6% during the 1st quarter. London & Capital Asset Management Ltd now owns 85,712 shares of the credit-card processor’s stock worth $23,921,000 after purchasing an additional 2,138 shares during the period. Transcendent Capital Group LLC raised its position in Visa by 5.1% during the 1st quarter. Transcendent Capital Group LLC now owns 2,697 shares of the credit-card processor’s stock valued at $753,000 after purchasing an additional 132 shares in the last quarter. Finally, Ascent Group LLC lifted its holdings in shares of Visa by 12.9% in the 1st quarter. Ascent Group LLC now owns 41,542 shares of the credit-card processor’s stock worth $11,594,000 after buying an additional 4,735 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of V stock opened at $309.93 on Friday. Visa Inc. has a 52-week low of $251.61 and a 52-week high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $577.36 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The business has a 50-day simple moving average of $289.52 and a 200-day simple moving average of $277.33.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.33 earnings per share. On average, equities analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Jefferies Financial Group upped their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen raised their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.