Kingsview Wealth Management LLC Raises Holdings in Visa Inc. (NYSE:V)

Kingsview Wealth Management LLC grew its position in Visa Inc. (NYSE:V) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,698 shares of the credit-card processor’s stock after buying an additional 13,341 shares during the quarter. Visa accounts for 0.8% of Kingsview Wealth Management LLC’s holdings, making the stock its 25th largest holding. Kingsview Wealth Management LLC’s holdings in Visa were worth $36,760,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. WFA Asset Management Corp increased its position in Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Visa by 12.3% in the first quarter. Bamco Inc. NY now owns 190,107 shares of the credit-card processor’s stock valued at $53,055,000 after purchasing an additional 20,786 shares during the period. London & Capital Asset Management Ltd increased its holdings in shares of Visa by 2.6% in the first quarter. London & Capital Asset Management Ltd now owns 85,712 shares of the credit-card processor’s stock valued at $23,921,000 after purchasing an additional 2,138 shares during the period. Transcendent Capital Group LLC increased its holdings in shares of Visa by 5.1% in the first quarter. Transcendent Capital Group LLC now owns 2,697 shares of the credit-card processor’s stock valued at $753,000 after purchasing an additional 132 shares during the period. Finally, Ascent Group LLC increased its holdings in shares of Visa by 12.9% in the first quarter. Ascent Group LLC now owns 41,542 shares of the credit-card processor’s stock valued at $11,594,000 after purchasing an additional 4,735 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Citigroup upped their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Susquehanna increased their price target on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Four investment 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Visa Trading Up 0.0 %

V opened at $309.93 on Friday. The firm has a market cap of $577.36 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95. The business has a fifty day simple moving average of $289.52 and a 200-day simple moving average of $277.33. Visa Inc. has a 52 week low of $251.61 and a 52 week high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

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

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is 24.25%.

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.