Kowal Investment Group LLC Sells 99 Shares of Visa Inc. (NYSE:V)

by · The Markets Daily

Kowal Investment Group LLC lowered its position in shares of Visa Inc. (NYSE:V – Free Report) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,332 shares of the credit-card processor’s stock after selling 99 shares during the quarter. Kowal Investment Group LLC’s holdings in Visa were worth $1,466,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Beech Hill Advisors Inc. increased its holdings in Visa by 3.3% during the 3rd quarter. Beech Hill Advisors Inc. now owns 14,962 shares of the credit-card processor’s stock valued at $4,114,000 after purchasing an additional 482 shares in the last quarter. Tamar Securities LLC boosted its stake in Visa by 51.1% in the third quarter. Tamar Securities LLC now owns 59,815 shares of the credit-card processor’s stock worth $16,446,000 after purchasing an additional 20,225 shares in the last quarter. FLC Capital Advisors grew its holdings in shares of Visa by 3.5% during the third quarter. FLC Capital Advisors now owns 2,924 shares of the credit-card processor’s stock worth $804,000 after purchasing an additional 100 shares during the last quarter. Culbertson A N & Co. Inc. increased its stake in shares of Visa by 2.1% in the third quarter. Culbertson A N & Co. Inc. now owns 21,467 shares of the credit-card processor’s stock valued at $5,902,000 after buying an additional 450 shares in the last quarter. Finally, Rheos Capital Works Inc. raised its holdings in shares of Visa by 31.4% in the third quarter. Rheos Capital Works Inc. now owns 200,000 shares of the credit-card processor’s stock valued at $54,990,000 after buying an additional 47,800 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % 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. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on V shares. Bank of America increased their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $313.81.

View Our Latest Research Report on Visa

Visa Stock Up 2.9 %

Shares of Visa stock opened at $287.51 on Thursday. The firm has a market cap of $525.83 billion, a PE ratio of 32.12, a P/E/G ratio of 1.94 and a beta of 0.96. The business’s 50 day simple moving average is $275.69 and its 200 day simple moving average is $272.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the company earned $2.16 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio is 23.24%.

About Visa

(Free Report)

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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