Visa Inc. $V Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its position in Visa Inc. (NYSE:V) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 926,323 shares of the credit-card processor’s stock after selling 14,873 shares during the quarter. Visa comprises 1.4% of King Luther Capital Management Corp’s holdings, making the stock its 15th largest position. King Luther Capital Management Corp owned 0.05% of Visa worth $328,891,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the second quarter worth about $28,000. Harbor Asset Planning Inc. acquired a new position in Visa during the second quarter worth about $29,000. Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Hoese & Co LLP purchased a new stake in Visa during the 2nd quarter valued at about $36,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on V. Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Down 0.5%

NYSE:V opened at $334.49 on Tuesday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock’s fifty day moving average is $343.17 and its two-hundred day moving average is $348.83. The stock has a market capitalization of $613.05 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 earnings per share. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 23.11%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,897 shares of company stock worth $8,164,561 over the last three months. Company insiders own 0.13% of the company’s stock.

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.