King Luther Capital Management Corp Lowers Holdings in Visa Inc. $V

King Luther Capital Management Corp trimmed its position in shares of Visa Inc. (NYSE:V) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 918,356 shares of the credit-card processor’s stock after selling 7,967 shares during the period. Visa makes up about 1.3% of King Luther Capital Management Corp’s holdings, making the stock its 18th biggest holding. King Luther Capital Management Corp’s holdings in Visa were worth $313,508,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Insight Wealth Strategies LLC boosted its stake in Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after purchasing an additional 29 shares during the last quarter. Old Port Advisors boosted its position in shares of Visa by 0.9% during the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock valued at $1,169,000 after buying an additional 29 shares during the last quarter. Interchange Capital Partners LLC increased its holdings in Visa by 0.5% in the 2nd quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after buying an additional 30 shares in the last quarter. Carr Financial Group Corp lifted its stake in Visa by 2.4% during the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after acquiring an additional 30 shares during the period. Finally, Define Financial LLC boosted its holdings in shares of Visa by 4.0% during the 3rd quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 0.4%

NYSE:V opened at $320.63 on Thursday. The firm has a market capitalization of $581.99 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day moving average price of $337.50 and a 200-day moving average price of $339.24. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the business posted $2.75 earnings per share. The business’s quarterly revenue was up 14.6% 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 declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 25.14%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on V shares. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research report on Monday, February 2nd. HSBC raised Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Rothschild & Co Redburn set a $385.00 price objective on Visa in a report on Wednesday, January 28th. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $392.21.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.