King Luther Capital Management Corp Lowers Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

King Luther Capital Management Corp trimmed its holdings in Visa Inc. (NYSE:V – Free Report) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 957,580 shares of the credit-card processor’s stock after selling 9,403 shares during the period. Visa accounts for 1.3% of King Luther Capital Management Corp’s holdings, making the stock its 17th biggest holding. King Luther Capital Management Corp’s holdings in Visa were worth $302,634,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Riverstone Advisors LLC purchased a new stake in shares of Visa during the 4th quarter worth about $217,000. Journey Strategic Wealth LLC raised its position in shares of Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Visa during the 4th quarter worth about $10,163,000. Copley Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth about $616,000. Finally, Calamos Wealth Management LLC raised its holdings in Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock valued at $24,475,000 after acquiring an additional 435 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 1.2 %

Shares of NYSE:V opened at $341.07 on Tuesday. The company has a market cap of $633.63 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.33 and a beta of 0.95. The firm’s 50-day simple moving average is $336.69 and its 200-day simple moving average is $309.43. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V – Get Free Report) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

A number of research firms have commented on V. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Piper Sandler reaffirmed an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Barclays raised their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Six 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Read Our Latest Research Report on V

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,505 shares of company stock valued at $22,290,507. Corporate insiders own 0.13% of the company’s stock.

Visa Profile

(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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