KCM Investment Advisors LLC Reduces Position in Visa Inc. (NYSE:V)

KCM Investment Advisors LLC reduced its holdings in Visa Inc. (NYSE:V) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,042 shares of the credit-card processor’s stock after selling 575 shares during the period. Visa makes up 1.5% of KCM Investment Advisors LLC’s holdings, making the stock its 17th biggest position. KCM Investment Advisors LLC’s holdings in Visa were worth $44,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Visa during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the second quarter worth about $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Down 0.1 %

NYSE V traded down $0.22 during trading hours on Friday, hitting $308.03. 691,218 shares of the company were exchanged, compared to its average volume of 6,974,698. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $561.33 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 2.07 and a beta of 0.95. The company has a 50 day moving average of $286.44 and a two-hundred day moving average of $275.64. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Susquehanna upped their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Company 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.