Visa Inc. (NYSE:V) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 55.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,401 shares of the credit-card processor’s stock after selling 2,954 shares during the period. KG&L Capital Management LLC’s holdings in Visa were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Visa by 45,189.4% in 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. State Street Corp lifted its position in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC lifted its position in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC raised its stake in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Visa during the 3rd quarter worth $268,640,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. Macquarie lifted their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday. UBS Group lifted their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America lifted their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $354.73.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Up 1.2 %

V stock opened at $345.92 on Tuesday. The company has a market cap of $644.41 billion, a P/E ratio of 34.87, a P/E/G ratio of 2.30 and a beta of 0.97. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $351.25. The company’s 50-day moving average price is $317.74 and its 200 day moving average price is $293.27. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, research analysts expect that Visa Inc. will post 11.2 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

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.