Kendall Capital Management Lowers Stock Position in Visa Inc. (NYSE:V)

Kendall Capital Management lowered its position in shares of Visa Inc. (NYSE:V) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 648 shares of the credit-card processor’s stock after selling 110 shares during the quarter. Kendall Capital Management’s holdings in Visa were worth $205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC increased its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC increased its holdings in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Visa by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after buying an additional 718,558 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after buying an additional 123,927 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.5 %

Shares of V opened at $345.79 on Monday. The stock has a market capitalization of $642.41 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The business’s 50 day simple moving average is $336.18 and its 200-day simple moving average is $308.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio (DPR) is 23.79%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $194,931. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Barclays lifted their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Susquehanna lifted their price objective on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Morgan Stanley lifted their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Raymond James restated an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.96.

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.