King Luther Capital Management Corp Sells 16,384 Shares of Visa Inc. (NYSE:V)

Key Points

• King Luther Capital Management Corp reduced its stake in Visa by 1.7%, selling 16,384 shares, and now holds 941,196 shares valued at approximately $329.85 million.
• Visa's quarterly earnings surpassed expectations, reporting $2.98 EPS against the consensus of $2.85, with revenue increasing by 14.3% year-over-year to $10.17 billion.
• Visa recently declared a quarterly dividend of $0.59 per share, with an annualized yield of 0.7% and the ex-dividend date set for August 12th.

King Luther Capital Management Corp trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 941,196 shares of the credit-card processor's stock after selling 16,384 shares during the period. Visa comprises about 1.5% of King Luther Capital Management Corp's investment portfolio, making the stock its 14th largest position. King Luther Capital Management Corp owned 0.05% of Visa worth $329,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. NFP Retirement Inc. lifted its stake in shares of Visa by 8.6% during the fourth quarter. NFP Retirement Inc. now owns 834 shares of the credit-card processor's stock valued at $264,000 after acquiring an additional 66 shares during the period. Petros Family Wealth LLC acquired a new position in shares of Visa during the fourth quarter valued at $351,000. Finally, Manhattan West Asset Management LLC lifted its stake in shares of Visa by 6.1% during the fourth quarter. Manhattan West Asset Management LLC now owns 11,593 shares of the credit-card processor's stock valued at $3,664,000 after acquiring an additional 667 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.4%

NYSE:V opened at $336.86 on Friday. The stock has a 50-day simple moving average of $352.79 and a 200 day simple moving average of $347.13. 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 Inc. has a 52-week low of $258.74 and a 52-week high of $375.51. The company has a market cap of $621.56 billion, a PE ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $9.82 billion. During the same period in the previous year, the firm posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,100 shares of company stock valued at $27,643,224. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

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.

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