KG&L Capital Management LLC Purchases 3,168 Shares of Visa Inc. (NYSE:V)

KG&L Capital Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 144.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,355 shares of the credit-card processor’s stock after acquiring an additional 3,168 shares during the quarter. KG&L Capital Management LLC’s holdings in Visa were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors increased its position in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares in the last quarter. Capital World Investors increased its holdings in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.70.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of V stock opened at $290.74 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. The stock has a fifty day simple moving average of $281.00 and a two-hundred day simple moving average of $273.66. Visa Inc. has a twelve month low of $239.20 and a twelve month high of $296.34.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $2.33 EPS. On average, analysts predict that Visa Inc. will post 11.17 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 21.38%.

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.