Visa Inc. $V Holdings Decreased by KMG Fiduciary Partners LLC

Key Points

• KMG Fiduciary Partners cut its Visa stake by 40.9% in the second quarter, selling 13,531 shares and retaining 19,526 shares valued at approximately $6.7 million. Institutional investors collectively own 82.15% of Visa.
• Visa reported quarterly earnings of $3.32 per share, beating estimates of $3.23, while revenue rose 14.4% year over year to $11.63 billion. The company also authorized a $20 billion share-repurchase program.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $413.58 versus the reported share price of $360.67. Visa also declared a quarterly dividend of $0.67 per share, representing a 0.7% yield.

KMG Fiduciary Partners LLC lessened its stake in Visa Inc. (NYSE:V - Free Report) by 40.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,526 shares of the credit-card processor's stock after selling 13,531 shares during the period. KMG Fiduciary Partners LLC's holdings in Visa were worth $6,699,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of V. PayPay Securities Corp lifted its stake in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in shares of Visa in the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC increased its stake in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after acquiring an additional 50 shares during the period. RHL Group LLC acquired a new position in shares of Visa during the fourth quarter valued at approximately $34,000. Finally, Timmons Wealth Management LLC bought a new stake in Visa during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Down 0.5%

Shares of NYSE:V opened at $360.67 on Tuesday. The firm has a 50 day simple moving average of $345.87 and a 200 day simple moving average of $327.28. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $373.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $643.59 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analysts' expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.98 EPS. As a group, research analysts expect that Visa Inc. will post 13.14 earnings per share for the current year.

Visa declared that its Board of Directors has authorized a stock repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 22.79%.

Insider Buying and Selling at Visa

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares of the company's stock, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 20,970 shares of the 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 of the company's stock, valued at approximately $5,162,953.50. The trade was a 58.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 90,759 shares of company stock valued at $32,375,779 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on V shares. Truist Financial set a $406.00 target price on Visa and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Wells Fargo & Company reiterated an "overweight" rating and set a $432.00 price target (up from $412.00) on shares of Visa in a research report on Thursday, July 30th. Weiss Ratings raised Visa from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 30th. Erste Group Bank upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, July 27th. Finally, Susquehanna reaffirmed a "positive" rating and set a $427.00 target price (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 given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $413.58.

Visa Company Profile

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.

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