Kornitzer Capital Management Inc. KS Has $25.29 Million Holdings in Visa Inc. (NYSE:V)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,158 shares of the credit-card processor's stock after selling 2,603 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Visa were worth $25,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC raised its stake in Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Capital International Investors boosted its holdings in Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors boosted its holdings in Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp grew its position in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last ninety days. Company insiders own 0.13% of the company's stock.

Visa Trading Up 0.2%

NYSE:V traded up $0.67 on Thursday, hitting $350.57. 3,060,138 shares of the stock were exchanged, compared to its average volume of 6,786,191. 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 stock has a market capitalization of $646.86 billion, a price-to-earnings ratio of 35.23, a P/E/G ratio of 2.35 and a beta of 0.92. The company's 50-day moving average price is $356.94 and its 200 day moving average price is $343.16.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the business posted $2.51 earnings per share. Visa's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on V shares. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. BMO Capital Markets boosted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating for the company. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five 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 stock. According to data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.52.

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.