King Luther Capital Management Corp Grows Stock Position in Visa Inc. (NYSE:V)

King Luther Capital Management Corp grew its stake in Visa Inc. (NYSE:V) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 953,754 shares of the credit-card processor’s stock after purchasing an additional 11,693 shares during the period. Visa comprises approximately 1.1% of King Luther Capital Management Corp’s investment portfolio, making the stock its 24th largest holding. King Luther Capital Management Corp owned 0.05% of Visa worth $250,332,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in Visa during the first quarter worth about $1,212,000. Absolute Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at approximately $404,000. SageView Advisory Group LLC lifted its position in Visa by 40.4% during the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after buying an additional 7,236 shares in the last quarter. Davidson Capital Management Inc. raised its holdings in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 44 shares during the period. Finally, Empirical Finance LLC grew its stake in shares of Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $285.25 on Friday. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company’s fifty day moving average is $270.27 and its two-hundred day moving average is $273.46. The firm has a market capitalization of $519.81 billion, a P/E ratio of 31.87, a PEG ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the company earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on V shares. Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Morgan Stanley lowered their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

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.