Kesler Norman & Wride LLC Increases Stock Position in Visa Inc. (NYSE:V)

Kesler Norman & Wride LLC raised its holdings in Visa Inc. (NYSE:V) by 535.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,146 shares of the credit-card processor’s stock after purchasing an additional 9,392 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Visa were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Visa during the 4th quarter worth approximately $3,895,015,000. International Assets Investment Management LLC raised its position in shares of Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Capital World Investors raised its position in shares of Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Visa by 139.4% during the 4th quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock worth $568,885,000 after purchasing an additional 1,272,211 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.3 %

Shares of V stock traded up $0.76 during trading hours on Thursday, hitting $268.99. 5,017,760 shares of the company were exchanged, compared to its average volume of 9,395,944. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The business’s 50-day simple moving average is $273.45 and its two-hundred day simple moving average is $273.65. The stock has a market capitalization of $491.97 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 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 company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 earnings per share. Sell-side analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wedbush lifted their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price target on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Wells Fargo & Company boosted their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $303.56.

Insider Buying and Selling

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

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.