Kennon Green & Company LLC Sells 169 Shares of Visa Inc. $V

Kennon Green & Company LLC trimmed its position in Visa Inc. (NYSE:V) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,468 shares of the credit-card processor’s stock after selling 169 shares during the period. Visa makes up approximately 3.0% of Kennon Green & Company LLC’s portfolio, making the stock its 13th biggest position. Kennon Green & Company LLC’s holdings in Visa were worth $3,721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in Visa during the 1st quarter worth approximately $38,000. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, UBS Group restated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Price Performance

Visa stock opened at $341.90 on Friday. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s 50 day simple moving average is $344.30 and its 200 day simple moving average is $346.83. The company has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.02 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

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.