Visa Inc. (NYSE:V) Shares Sold by King Wealth Management Group

King Wealth Management Group lowered its position in Visa Inc. (NYSE:V) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,702 shares of the credit-card processor’s stock after selling 516 shares during the quarter. Visa comprises approximately 2.9% of King Wealth Management Group’s investment portfolio, making the stock its 10th biggest holding. King Wealth Management Group’s holdings in Visa were worth $18,890,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares during the period. SG Americas Securities LLC increased its stake in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares during the period. National Bank of Canada FI raised its holdings in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in Visa in the first quarter worth approximately $511,321,000. Finally, GQG Partners LLC boosted its stake in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. TD Cowen raised their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Down 0.4 %

Shares of V stock opened at $308.27 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $285.84 and its two-hundred day moving average is $275.41. The company has a market cap of $561.76 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. Visa Inc. has a 12 month low of $245.34 and a 12 month high of $312.44.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping 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 net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 EPS. Equities analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is 24.25%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

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.