Kestra Investment Management LLC Has $2.63 Million Stock Position in Visa Inc. $V

Kestra Investment Management LLC lessened its holdings in Visa Inc. (NYSE:V) by 23.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,405 shares of the credit-card processor’s stock after selling 2,236 shares during the quarter. Kestra Investment Management LLC’s holdings in Visa were worth $2,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of V. Vanguard Group Inc. raised its position in shares of Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC grew its position in Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. Norges Bank bought a new position in Visa during the 2nd quarter worth $7,034,939,000. TCI Fund Management Ltd. raised its holdings in Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on V shares. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Finally, Evercore ISI set a $380.00 price target on shares of Visa in a research report on Friday. Five research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $402.52.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 0.6%

Shares of Visa stock opened at $347.83 on Friday. The firm’s 50 day moving average is $337.70 and its 200 day moving average is $345.25. The firm has a market capitalization of $633.65 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.06 and a beta of 0.82. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is 26.25%.

Visa 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.