Visa Inc. (NYSE:V) Stake Lowered by Kestra Investment Management LLC

Kestra Investment Management LLC decreased its stake in Visa Inc. (NYSE:V) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,709 shares of the credit-card processor’s stock after selling 499 shares during the period. Kestra Investment Management LLC’s holdings in Visa were worth $2,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in shares of Visa during the third quarter valued at $26,000. Decker Retirement Planning Inc. bought a new stake in Visa in the 4th quarter valued at about $26,000. Reston Wealth Management LLC acquired a new position in Visa during the 3rd quarter valued at about $31,000. POM Investment Strategies LLC grew its position in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $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. Insiders sold 55,885 shares of company stock worth $19,161,447 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 1.3 %

Shares of V opened at $350.45 on Friday. The business’s 50-day moving average price is $328.47 and its 200 day moving average price is $301.39. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $651.05 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.37 and a beta of 0.97. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $357.15.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on V. Robert W. Baird boosted their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, TD Cowen raised their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target 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.