Kestra Investment Management LLC Takes Position in Visa Inc. (NYSE:V)

Kestra Investment Management LLC bought a new position in Visa Inc. (NYSE:V) in the third quarter, according to its most recent filing with the SEC. The firm bought 7,208 shares of the credit-card processor’s stock, valued at approximately $1,982,000.

Other large investors also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the third quarter worth about $26,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the second quarter worth $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $315.08 on Friday. Visa Inc. has a twelve month low of $252.14 and a twelve month high of $316.37. The company has a market cap of $586.96 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $292.09 and its 200-day moving average price is $278.57.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction 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 completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on V. 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 report on Wednesday, October 30th. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Citigroup raised their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted 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 analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.