Kestra Private Wealth Services LLC Raises Holdings in Visa Inc. (NYSE:V)

Kestra Private Wealth Services LLC lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,370 shares of the credit-card processor's stock after purchasing an additional 5,467 shares during the quarter. Visa accounts for about 1.1% of Kestra Private Wealth Services LLC's investment portfolio, making the stock its 11th biggest holding. Kestra Private Wealth Services LLC's holdings in Visa were worth $63,563,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its stake in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors boosted its stake in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors boosted its stake in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

NYSE:V traded down $0.91 during trading hours on Friday, hitting $348.90. 4,916,998 shares of the stock were exchanged, compared to its average volume of 6,795,531. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm's fifty day moving average price is $356.82 and its 200 day moving average price is $343.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.51 EPS. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on V. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday. They issued a "buy" rating and a $410.00 price target on the stock. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $375.52.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 over the last ninety days. Corporate insiders own 0.13% of the company's stock.

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.