Kintra Wealth LLC Has $5.13 Million Position in Visa Inc. $V

Key Points

• Kintra Wealth increased its Visa position by 84.7% in the second quarter, bringing its holdings to 14,042 shares valued at approximately $5.13 million. Institutional investors and hedge funds collectively own 82.15% of Visa.
• Analysts remain broadly bullish on Visa, with an average rating of “Buy” and an average price target of $416.62. Recent firms raised or reaffirmed price targets between $420 and $445.
• Visa reported quarterly earnings and revenue above estimates, with EPS of $3.32 and revenue of $11.63 billion, while revenue grew 14.4% year over year. The company also paid a quarterly dividend of $0.67 per share, although insiders sold more than 104,000 shares during the quarter.

Kintra Wealth LLC boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 84.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,042 shares of the credit-card processor's stock after buying an additional 6,441 shares during the quarter. Kintra Wealth LLC's holdings in Visa were worth $5,132,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in V. Brighton Jones LLC increased its position in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its position in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY lifted its position in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock worth $402,000 after purchasing an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock valued at $6,521,000 after purchasing an additional 2,230 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the subject of several recent analyst reports. Cantor Fitzgerald set a $445.00 price objective on shares of Visa and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Erste Group Bank upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, July 27th. TD Cowen reiterated a "buy" rating on shares of Visa in a report on Wednesday, July 29th. Susquehanna reissued a "positive" rating and issued a $427.00 price objective (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, UBS Group reissued a "buy" rating and issued a $420.00 price objective (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $416.62.

Visa Stock Down 1.1%

Visa stock opened at $374.46 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $385.57. The firm's fifty day moving average is $363.63 and its 200 day moving average is $333.27. The company has a market capitalization of $668.20 billion, a PE ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business's revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.98 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa's dividend payout ratio is 22.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 20,970 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,162,953.50. The trade was a 58.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $381.35, for a total value of $773,377.80. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 104,537 shares of company stock worth $37,540,837. Corporate insiders own 0.12% of the company's stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source