L.M. Kohn & Company Reduces Position in Visa Inc. (NYSE:V)

L.M. Kohn & Company cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,181 shares of the credit-card processor's stock after selling 811 shares during the quarter. Visa makes up approximately 1.7% of L.M. Kohn & Company's portfolio, making the stock its 12th largest holding. L.M. Kohn & Company's holdings in Visa were worth $6,372,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in V. Lakeridge Wealth Management LLC lifted its holdings in shares of Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa in the fourth quarter worth about $306,000. Aptus Capital Advisors LLC lifted its holdings in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group lifted its holdings in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after buying an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC lifted its holdings in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,098 shares of company stock worth $36,738,526. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Piper Sandler upped their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Truist Financial assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $372.80.

Visa Stock Down 0.7%

Shares of Visa stock opened at $338.04 on Friday. 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 $623.73 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.29 and a beta of 0.94. The company's 50 day moving average price is $351.78 and its 200-day moving average price is $338.54.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. The business's revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is 23.72%.

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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