Visa Inc. (NYSE:V) Stake Boosted by King Wealth Management Group

King Wealth Management Group raised its position in shares of Visa Inc. (NYSE:V) by 9.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,874 shares of the credit-card processor’s stock after buying an additional 6,172 shares during the quarter. Visa accounts for 3.5% of King Wealth Management Group’s portfolio, making the stock its 8th largest position. King Wealth Management Group’s holdings in Visa were worth $23,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviso Financial Inc. lifted its position in shares of Visa by 2.8% in the 4th quarter. Aviso Financial Inc. now owns 284,617 shares of the credit-card processor’s stock valued at $89,950,000 after acquiring an additional 7,764 shares in the last quarter. May Barnhard Investments LLC purchased a new stake in shares of Visa in the fourth quarter valued at $383,000. Atala Financial Inc acquired a new stake in shares of Visa in the fourth quarter worth $918,000. LBP AM SA grew its stake in Visa by 5.0% during the 4th quarter. LBP AM SA now owns 767,189 shares of the credit-card processor’s stock valued at $242,462,000 after acquiring an additional 36,454 shares in the last quarter. Finally, Parnassus Investments LLC lifted its position in Visa by 2,622.9% in the 4th quarter. Parnassus Investments LLC now owns 260,174 shares of the credit-card processor’s stock worth $82,225,000 after buying an additional 250,619 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Visa stock opened at $327.98 on Friday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a market cap of $609.32 billion, a PE ratio of 33.06, a PEG ratio of 2.33 and a beta of 0.95. 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 company’s 50-day moving average is $337.62 and its two-hundred day moving average is $310.18.

Visa (NYSE:V) last issued its earnings results 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 return on equity of 54.79% and a net margin of 54.27%. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,505 shares of company stock valued at $22,290,507. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Susquehanna increased their price objective on shares of Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.