United Capital Management of KS Inc. Sells 14,944 Shares of Visa Inc. (NYSE:V)

Key Points

• United Capital Management of KS Inc. reduced its holdings in Visa Inc. by 62.3% during the 1st quarter, leaving the fund with 9,046 shares valued at $3,170,000.
• CEO Ryan Mcinerney sold 8,630 shares of Visa stock for over $3 million, significantly reducing his ownership by 94.14%.
• Visa recently declared a $0.59 quarterly dividend, with a yield of 0.7%, to be paid on September 2nd to shareholders of record as of August 12th.

United Capital Management of KS Inc. decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 62.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,046 shares of the credit-card processor's stock after selling 14,944 shares during the quarter. United Capital Management of KS Inc.'s holdings in Visa were worth $3,170,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter valued at approximately $27,000. Measured Risk Portfolios Inc. bought a new position in Visa in the 4th quarter worth approximately $47,000. Navigoe LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $53,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the first quarter valued at approximately $54,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Visa in the first quarter valued at approximately $56,000. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,100 shares of company stock valued at $27,643,224. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 0.9%

Visa stock opened at $345.53 on Friday. The company has a 50 day moving average of $350.69 and a 200-day moving average of $347.27. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $262.84 and a twelve month high of $375.51. The stock has a market capitalization of $633.27 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Oppenheimer increased their price objective 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. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

About Visa

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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