Kestra Advisory Services LLC Trims Stock Holdings in Visa Inc. $V

Key Points

• Kestra Advisory Services LLC has reduced its stake in Visa Inc. by 4.1%, selling 8,318 shares for a total holding of 196,123 shares valued at approximately $68.73 million.
• Several analysts have reaffirmed strong outlooks on Visa, with UBS Group raising its price target from $405.00 to $415.00 and 22 analysts giving a Buy rating, indicating a generally positive market sentiment.
• Visa announced a quarterly dividend of $0.59, reflecting an annualized payout of $2.36 and a dividend yield of 0.7%, with an upcoming payment date of September 2nd for stockholders of record as of August 12th.

Kestra Advisory Services LLC lowered its position in Visa Inc. (NYSE:V - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 196,123 shares of the credit-card processor's stock after selling 8,318 shares during the period. Kestra Advisory Services LLC's holdings in Visa were worth $68,733,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Keystone Global Partners LLC bought a new position in shares of Visa in the 1st quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the 4th quarter worth about $47,000. Navigoe LLC purchased a new position in shares of Visa during the 4th quarter worth about $53,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on V shares. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average price target of $380.84.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

Shares of V stock opened at $343.5530 on Friday. The stock's 50-day simple moving average is $347.99 and its 200-day simple moving average is $347.37. The firm has a market capitalization of $629.66 billion, a price-to-earnings ratio of 33.55, a PEG ratio of 2.29 and a beta of 0.94. Visa Inc. has a fifty-two week low of $265.31 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 earnings per share. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio is 23.05%.

Visa 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.

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