Kestra Investment Management LLC Has $2.12 Million Stock Position in Visa Inc. (NYSE:V)

Kestra Investment Management LLC lessened its holdings in Visa Inc. (NYSE:V) by 6.9% in the 4th quarter, Holdings Channel reports. The firm owned 6,709 shares of the credit-card processor’s stock after selling 499 shares during the quarter. Kestra Investment Management LLC’s holdings in Visa were worth $2,120,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after buying an additional 30 shares in the last quarter. Warther Private Wealth LLC increased its position in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the last quarter. Valmark Advisers Inc. raised its holdings in Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after acquiring an additional 30 shares in the last quarter. Crescent Grove Advisors LLC boosted its position in Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares during the last quarter. Finally, Vicus Capital boosted its position in Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird upped their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 1.3 %

Shares of V opened at $350.45 on Friday. 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 PE ratio of 35.33, a P/E/G ratio of 2.37 and a beta of 0.97. The firm’s 50 day moving average is $328.47 and its 200-day moving average is $301.39. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $357.15.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities research analysts forecast that Visa Inc. will post 11.3 EPS 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 issued a $0.59 dividend. 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 is currently 23.79%.

About Visa

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.