KFG Wealth Management LLC Increases Position in Visa Inc. (NYSE:V)

KFG Wealth Management LLC lifted its stake in Visa Inc. (NYSE:V) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,672 shares of the credit-card processor’s stock after acquiring an additional 48 shares during the period. KFG Wealth Management LLC’s holdings in Visa were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in V. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the last quarter. Compass Planning Associates Inc acquired a new position in shares of Visa during the fourth quarter valued at about $32,000. NewSquare Capital LLC purchased a new position in shares of Visa in the fourth quarter worth $35,000. Finally, FPC Investment Advisory Inc. grew its holdings in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on V. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Truist Financial initiated coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, Citigroup initiated coverage on shares of Visa in a report on Monday. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $372.80.

Visa Stock Up 1.0%

Shares of NYSE V opened at $370.44 on Friday. The firm has a market cap of $683.52 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company’s 50-day simple moving average is $345.45 and its 200-day simple moving average is $335.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.00.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. Visa’s revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa’s dividend payout ratio is presently 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. The trade was a 59.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $58,645,479 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Visa 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.