Kingsman Wealth Management Inc. Purchases New Stake in Visa Inc. (NYSE:V)

Kingsman Wealth Management Inc. purchased a new stake in Visa Inc. (NYSE:V - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,521 shares of the credit-card processor's stock, valued at approximately $1,935,000. Visa makes up 1.4% of Kingsman Wealth Management Inc.'s holdings, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Red Cedar Investment Management LLC raised its holdings in shares of Visa by 31.1% in the first quarter. Red Cedar Investment Management LLC now owns 9,461 shares of the credit-card processor's stock worth $3,316,000 after acquiring an additional 2,247 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of Visa by 5.9% in the first quarter. Valley National Advisers Inc. now owns 789 shares of the credit-card processor's stock worth $276,000 after acquiring an additional 44 shares during the last quarter. Jacobsen Capital Management raised its holdings in shares of Visa by 3.1% in the first quarter. Jacobsen Capital Management now owns 4,982 shares of the credit-card processor's stock worth $1,746,000 after acquiring an additional 148 shares during the last quarter. Northwest Wealth Management LLC raised its holdings in shares of Visa by 23.2% in the first quarter. Northwest Wealth Management LLC now owns 950 shares of the credit-card processor's stock worth $333,000 after acquiring an additional 179 shares during the last quarter. Finally, Cairn Investment Group Inc. raised its holdings in shares of Visa by 3.3% in the first quarter. Cairn Investment Group Inc. now owns 1,882 shares of the credit-card processor's stock worth $660,000 after acquiring an additional 60 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE V opened at $348.90 on Monday. The firm has a market cap of $643.78 billion, a P/E ratio of 35.07, a PEG ratio of 2.36 and a beta of 0.92. The stock has a fifty day moving average price of $356.82 and a two-hundred day moving average price of $344.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 earnings per share. Research analysts forecast 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. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's payout ratio is presently 23.72%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. UBS Group boosted their price target on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $375.52.

Insider Transactions at Visa

In related 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,108 shares of company stock worth $36,771,200. Company 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.

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