Kingsman Wealth Management Inc. Purchases 4,330 Shares of Visa Inc. $V

Key Points

• Kingsman Wealth Management Inc. increased its holdings in Visa Inc. by 78.4%, acquiring an additional 4,330 shares, bringing its total to 9,851 shares valued at approximately $3.5 million.
• Visa's recent earnings report showed a 14.3% increase in revenue year-over-year, totaling $10.17 billion and exceeding estimates.
• The company announced a quarterly dividend of $0.59 per share, with a yield of 0.7% based on a payout ratio of 23.05%.

Kingsman Wealth Management Inc. lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 78.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,851 shares of the credit-card processor's stock after acquiring an additional 4,330 shares during the period. Visa makes up about 2.2% of Kingsman Wealth Management Inc.'s portfolio, making the stock its 13th largest holding. Kingsman Wealth Management Inc.'s holdings in Visa were worth $3,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares during the period. Iron Gate Global Advisors LLC boosted its stake in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after purchasing an additional 3,484 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. boosted its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were 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 in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on V shares. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Trading Up 0.7%

Shares of Visa stock opened at $337.15 on Friday. Visa Inc. has a 1 year low of $272.78 and a 1 year high of $375.51. The firm has a market cap of $617.93 billion, a PE ratio of 32.92, a PEG ratio of 2.23 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day simple moving average of $344.65 and a two-hundred day simple moving average of $346.26.

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, 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 the consensus estimate of $9.82 billion. During the same period last year, the firm posted $2.42 earnings per share. The business's revenue was up 14.3% compared to the same quarter last year. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

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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