Visa Inc. $V Shares Purchased by KMG Fiduciary Partners LLC

Key Points

• KMG Fiduciary Partners LLC increased its position in Visa Inc. by 4.8% in the second quarter, now owning 29,211 shares valued at over $10 million.
• Visa recently reported earnings of $2.98 per share, surpassing estimates by $0.13, with quarterly revenue up 14.3% year-over-year.
• Analysts have raised their price targets for Visa, with Macquarie and Mizuho both setting prices at $425.00, indicating strong confidence in the stock's potential growth.

KMG Fiduciary Partners LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,211 shares of the credit-card processor's stock after purchasing an additional 1,351 shares during the period. KMG Fiduciary Partners LLC's holdings in Visa were worth $10,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Nuveen LLC purchased a new stake in Visa in the 1st quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Visa during the fourth quarter worth approximately $673,689,000. Vanguard Group Inc. increased its position in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

NYSE V traded up $3.89 on Friday, reaching $342.07. 13,657,860 shares of the company's stock traded hands, compared to its average volume of 4,986,314. The firm has a market cap of $626.94 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 2.27 and a beta of 0.92. The stock has a 50 day moving average price of $345.70 and a 200-day moving average price of $346.37. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Macquarie raised their target price on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Barclays restated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus price target of $385.96.

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.