Kestra Investment Management LLC Buys New Stake in Visa Inc. (NYSE:V)

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

Other institutional investors also recently bought and sold shares of the company. Paradigm Capital Management LLC NV purchased a new stake in shares of Visa during the 3rd quarter worth approximately $1,034,000. FSA Wealth Management LLC acquired a new stake in Visa during the 3rd quarter worth $228,000. B&L Asset Management LLC purchased a new stake in Visa in the third quarter valued at $1,097,000. Erste Asset Management GmbH purchased a new stake in Visa in the third quarter valued at $139,446,000. Finally, True Wealth Design LLC boosted its stake in Visa by 1,325.0% in the third quarter. True Wealth Design LLC now owns 342 shares of the credit-card processor’s stock valued at $94,000 after acquiring an additional 318 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Susquehanna lifted their target price on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird increased their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

V stock opened at $315.08 on Friday. The firm has a 50 day moving average of $292.09 and a 200-day moving average of $278.57. The company has a market cap of $586.96 billion, a price-to-earnings ratio of 32.38, a PEG 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. Visa Inc. has a 12-month low of $252.14 and a 12-month high of $316.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping 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%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

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.