KFG Wealth Management LLC Acquires 1,169 Shares of Visa Inc. $V

Key Points

• KFG Wealth Management LLC increased its stake in Visa Inc. by 69.9% during the second quarter, acquiring an additional 1,169 shares to bring its total to 2,841 shares valued at approximately $1,009,000.
• Visa reported a quarterly earnings per share (EPS) of $2.98, surpassing analysts' estimates by $0.13, along with a year-over-year revenue increase of 14.3% to reach $10.17 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Visa's stock, with an average price target of $385.96 based on various recent research reports.

KFG Wealth Management LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 69.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,841 shares of the credit-card processor's stock after purchasing an additional 1,169 shares during the quarter. KFG Wealth Management LLC's holdings in Visa were worth $1,009,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caitlin John LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $233,000. GAMMA Investing LLC raised its holdings in Visa by 9.5% in the 2nd quarter. GAMMA Investing LLC now owns 46,140 shares of the credit-card processor's stock valued at $16,382,000 after acquiring an additional 4,020 shares during the period. Maryland Capital Advisors Inc. acquired a new stake in Visa during the second quarter worth approximately $93,000. ABLE Financial Group LLC boosted its holdings in shares of Visa by 7.2% during the second quarter. ABLE Financial Group LLC now owns 3,806 shares of the credit-card processor's stock worth $1,351,000 after acquiring an additional 254 shares during the period. Finally, Westend Capital Management LLC grew its position in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley lifted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Stock Up 0.8%

Shares of NYSE V opened at $344.28 on Tuesday. The stock has a market capitalization of $630.99 billion, a P/E ratio of 33.62, a PEG ratio of 2.27 and a beta of 0.92. The stock's fifty day moving average is $345.58 and its 200 day moving average is $346.37. Visa Inc. has a 52 week low of $268.23 and a 52 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 announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value 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 trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.

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