Kingsview Wealth Management LLC Acquires 14,480 Shares of Visa Inc. (NYSE:V)

Kingsview Wealth Management LLC grew its stake in shares of Visa Inc. (NYSE:V) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,178 shares of the credit-card processor’s stock after buying an additional 14,480 shares during the period. Visa accounts for about 0.9% of Kingsview Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. Kingsview Wealth Management LLC’s holdings in Visa were worth $46,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gray Private Wealth LLC purchased a new position in Visa during the 4th quarter valued at approximately $207,000. Apollon Wealth Management LLC grew its holdings in shares of Visa by 42.9% in the fourth quarter. Apollon Wealth Management LLC now owns 77,153 shares of the credit-card processor’s stock valued at $24,383,000 after purchasing an additional 23,158 shares in the last quarter. Apollon Financial LLC increased its position in Visa by 10.9% in the fourth quarter. Apollon Financial LLC now owns 1,192 shares of the credit-card processor’s stock worth $377,000 after purchasing an additional 117 shares during the last quarter. Unison Asset Management LLC raised its stake in Visa by 2.6% during the fourth quarter. Unison Asset Management LLC now owns 17,193 shares of the credit-card processor’s stock valued at $5,434,000 after purchasing an additional 436 shares in the last quarter. Finally, Mezzasalma Advisors LLC lifted its position in Visa by 2.8% during the fourth quarter. Mezzasalma Advisors LLC now owns 35,495 shares of the credit-card processor’s stock valued at $11,218,000 after purchasing an additional 957 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Macquarie lifted their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup increased their price target on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, UBS Group lifted their price objective on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Visa Stock Up 0.9 %

V stock opened at $351.26 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $321.08 and a two-hundred day moving average of $296.19. The company has a market cap of $652.56 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.32 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $351.90.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts forecast that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Transactions at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % 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, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,056 shares of company stock worth $19,830,050. Insiders own 0.13% of the company’s stock.

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.