Knightsbridge Asset Management LLC Has $9.23 Million Stock Holdings in Visa Inc. $V

Key Points

• Knightsbridge Asset Management LLC has reduced its stake in Visa Inc. by 6.1%, now holding 26,339 shares valued at approximately $9.23 million, making it the firm's 10th largest investment.
• Visa reported earnings of $2.98 per share for the latest quarter, surpassing estimates, with revenue of $10.17 billion indicating a year-over-year increase of 14.3%.
• Numerous analysts have rated Visa positively, with Citigroup initiating coverage with a "buy" rating, while Barclays and Macquarie raised their price targets for the stock.

Knightsbridge Asset Management LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,339 shares of the credit-card processor's stock after selling 1,703 shares during the quarter. Visa makes up approximately 2.3% of Knightsbridge Asset Management LLC's holdings, making the stock its 10th largest position. Knightsbridge Asset Management LLC's holdings in Visa were worth $9,231,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in V. Yeomans Consulting Group Inc. lifted its position in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC lifted its position in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the period. Headinvest LLC increased its stake in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares in the last quarter. Kennebec Savings Bank lifted its position in Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after acquiring an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on V shares. Truist Financial lowered their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Barclays restated an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $385.96.

Visa Price Performance

Shares of NYSE:V traded down $0.77 during midday trading on Monday, reaching $342.45. 4,708,994 shares of the company were exchanged, compared to its average volume of 5,028,936. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business's fifty day moving average is $348.26 and its two-hundred day moving average is $347.15. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The stock has a market cap of $627.64 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,293 shares of company stock worth $8,114,295 over the last 90 days. 0.13% of the stock is owned by insiders.

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.