King Wealth Management Group Has $23.66 Million Holdings in Visa Inc. (NYSE:V)

King Wealth Management Group increased its stake in shares of Visa Inc. (NYSE:V) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 74,874 shares of the credit-card processor’s stock after acquiring an additional 6,172 shares during the period. Visa accounts for about 3.5% of King Wealth Management Group’s holdings, making the stock its 8th biggest holding. King Wealth Management Group’s holdings in Visa were worth $23,663,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Swedbank AB lifted its position in shares of Visa by 10.7% in the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after buying an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares during the last quarter. Pettinga Financial Advisors LLC bought a new position in Visa during the third quarter worth $228,000. Principal Financial Group Inc. increased its holdings in shares of Visa by 7.7% in the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after purchasing an additional 411,210 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Visa in the third quarter valued at about $660,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,505 shares of company stock valued at $22,290,507 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Visa Stock Down 1.5 %

V stock opened at $327.98 on Friday. The firm has a 50-day moving average price of $337.62 and a 200-day moving average price of $310.18. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $609.32 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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%. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Wall Street Analyst Weigh In

Several analysts recently commented on V shares. Raymond James reaffirmed an “outperform” rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Citigroup reiterated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna upped their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday, February 21st. Finally, UBS Group lifted their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Company 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.