Kingswood Wealth Advisors LLC Has $5.24 Million Stock Holdings in Visa Inc. $V

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Visa Inc. by 36.3% in the second quarter, owning 14,744 shares valued at approximately $5.24 million after selling 8,395 shares.
• CEO Ryan Mcinerney sold 10,485 shares of Visa for about $3.59 million, resulting in a 95.13% decrease in his holdings of the stock.
• Visa's latest earnings report revealed an EPS of $2.98, exceeding expectations, with a 14.3% increase in revenue year-over-year.

Kingswood Wealth Advisors LLC trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 36.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,744 shares of the credit-card processor's stock after selling 8,395 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Visa were worth $5,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying 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 buying an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC increased its position in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock valued at $564,000 after buying an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC bought a new stake in Visa in the 2nd quarter valued at about $862,000. Finally, Iron Gate Global Advisors LLC increased its position in 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 buying an additional 3,484 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred 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. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

V stock opened at $343.63 on Friday. The firm has a market cap of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $343.77 and a 200-day moving average of $346.97. Visa Inc. has a 12-month low of $275.37 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on V shares. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group reissued a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Erste Group Bank lowered Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Barclays reissued an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $389.00.

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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