KMG Fiduciary Partners LLC Sells 13,531 Shares of Visa Inc. $V

KMG Fiduciary Partners LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 40.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,526 shares of the credit-card processor’s stock after selling 13,531 shares during the period. KMG Fiduciary Partners LLC’s holdings in Visa were worth $6,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of V. Parvin Asset Management LLC boosted its position in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the period. PayPay Securities Corp boosted its holdings in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. acquired a new position in Visa in the 4th quarter valued at $26,000. RHL Group LLC bought a new position in Visa in the 4th quarter worth $34,000. Finally, Timmons Wealth Management LLC bought a new position in Visa in the 4th quarter worth $34,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 57,272 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 90,759 shares of company stock worth $32,375,779. Company insiders own 0.12% of the company’s stock.

Visa Trading Down 0.5%

Shares of V stock opened at $360.67 on Tuesday. The firm has a fifty day moving average of $345.87 and a 200-day moving average of $327.28. The stock has a market cap of $643.59 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 1.94 and a beta of 0.74. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $373.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.98 EPS. On average, equities research analysts forecast that Visa Inc. will post 13.14 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Analyst Ratings Changes

A number of research firms have issued reports on V. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their price objective on Visa from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Susquehanna reissued a “positive” rating and set a $427.00 price objective (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Raymond James Financial restated an “outperform” rating and set a $406.00 target price on shares of Visa in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $413.58.

About Visa

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.