Visa Inc. (NYSE:V) Stock Holdings Raised by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its stake in shares of Visa Inc. (NYSE:V) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 953,754 shares of the credit-card processor’s stock after purchasing an additional 11,693 shares during the period. Visa comprises about 1.1% of King Luther Capital Management Corp’s investment portfolio, making the stock its 24th biggest holding. King Luther Capital Management Corp’s holdings in Visa were worth $250,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new position in shares of Visa in the 4th quarter worth about $25,000. Westend Capital Management LLC bought a new position in Visa during the 1st quarter worth $25,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Jefferies Financial Group reduced their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Piper Sandler lowered their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Down 1.1 %

NYSE V opened at $285.25 on Friday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $519.81 billion, a PE ratio of 31.87, a PEG ratio of 2.05 and a beta of 0.96. The firm has a 50-day simple moving average of $270.27 and a 200 day simple moving average of $273.46.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $2.16 EPS. On average, research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

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.