KFG Wealth Management LLC Purchases 111 Shares of Visa Inc. (NYSE:V)

KFG Wealth Management LLC increased its position in Visa Inc. (NYSE:V) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 949 shares of the credit-card processor’s stock after buying an additional 111 shares during the quarter. KFG Wealth Management LLC’s holdings in Visa were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in V. Valeo Financial Advisors LLC raised its holdings in Visa by 1.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 60,371 shares of the credit-card processor’s stock worth $16,848,000 after purchasing an additional 655 shares during the last quarter. Evolution Wealth Advisors LLC raised its stake in Visa by 5.8% during the first quarter. Evolution Wealth Advisors LLC now owns 1,853 shares of the credit-card processor’s stock worth $517,000 after buying an additional 101 shares during the last quarter. WFA Asset Management Corp lifted its holdings in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares during the period. Monument Capital Management lifted its holdings in Visa by 1.5% in the first quarter. Monument Capital Management now owns 6,208 shares of the credit-card processor’s stock valued at $1,732,000 after buying an additional 89 shares during the period. Finally, Azzad Asset Management Inc. ADV boosted its position in Visa by 1.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 30,989 shares of the credit-card processor’s stock valued at $8,648,000 after acquiring an additional 378 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on V. Wells Fargo & Company boosted their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. TD Cowen initiated coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Robert W. Baird boosted their target price on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Citigroup raised their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Price Performance

Shares of Visa stock traded up $0.50 on Wednesday, reaching $268.73. The stock had a trading volume of 5,017,760 shares, compared to its average volume of 6,819,253. The business’s 50 day moving average is $273.58 and its two-hundred day moving average is $273.69. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The company has a market cap of $491.49 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. As a group, research analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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.