Kingsview Wealth Management LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Kingsview Wealth Management LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 59.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,250 shares of the credit-card processor's stock after selling 87,928 shares during the period. Kingsview Wealth Management LLC's holdings in Visa were worth $21,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter worth approximately $27,000. Sellwood Investment Partners LLC acquired a new stake in shares of Visa in the 4th quarter valued at $41,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Visa in the 4th quarter valued at $47,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa in the 4th quarter valued at $47,000. Finally, Navigoe LLC acquired a new stake in shares of Visa in the 4th quarter valued at $53,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

V stock traded down $0.91 during midday trading on Friday, reaching $348.90. 4,916,998 shares of the company's stock traded hands, compared to its average volume of 6,795,706. The company has a 50-day moving average price of $356.90 and a two-hundred day moving average price of $343.40. 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 52 week low of $252.70 and a 52 week high of $375.51. The firm has a market capitalization of $643.78 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly 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 firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.51 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade 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 sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on V shares. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Citigroup initiated coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday. They set a "buy" rating and a $410.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa 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.