Kingsview Wealth Management LLC Trims Position in Visa Inc. $V

Kingsview Wealth Management LLC cut its holdings in Visa Inc. (NYSE:V) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 56,082 shares of the credit-card processor’s stock after selling 4,168 shares during the period. Kingsview Wealth Management LLC’s holdings in Visa were worth $19,912,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Keystone Global Partners LLC acquired a new stake in shares of Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. acquired a new stake in Visa during the second quarter worth about $29,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in 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 during the period. Finally, Hoese & Co LLP acquired a new position in shares of Visa in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 23,897 shares of company stock worth $8,164,561. Company insiders own 0.13% of the company’s stock.

Visa Stock Down 1.8%

Visa stock opened at $329.89 on Friday. The company has a 50 day moving average of $342.16 and a 200-day moving average of $348.69. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock has a market capitalization of $604.63 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.00 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the business earned $2.71 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is presently 26.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on V shares. Macquarie dropped their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Robert W. Baird set a $425.00 price objective on Visa in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

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.