Visa Inc. $V Shares Bought by KG&L Capital Management LLC

Key Points

• KG&L Capital Management LLC increased its stake in Visa Inc. by 205.4% during the 2nd quarter, owning 7,930 shares valued at approximately $2.8 million.
• Several analysts have recently issued varied ratings for Visa, with Truist Financial lowering their price target to $397.00, while Deutsche Bank set a buy rating with a target of $410.00.
• Visa's recent quarterly earnings report showed $2.98 EPS and a revenue of $10.17 billion, exceeding analyst expectations, with a year-over-year revenue increase of 14.3%.

KG&L Capital Management LLC lifted its position in Visa Inc. (NYSE:V - Free Report) by 205.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,930 shares of the credit-card processor's stock after acquiring an additional 5,333 shares during the quarter. KG&L Capital Management LLC's holdings in Visa were worth $2,816,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in V. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC lifted its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Up 0.9%

Shares of V stock opened at $340.27 on Tuesday. Visa Inc. has a 1 year low of $273.20 and a 1 year high of $375.51. The stock has a market cap of $623.64 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The business's fifty day moving average is $344.44 and its 200-day moving average is $346.54. 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 issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the firm earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Visa 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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