King Luther Capital Management Corp Sells 9,403 Shares of Visa Inc. (NYSE:V)

King Luther Capital Management Corp trimmed its position in Visa Inc. (NYSE:V) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 957,580 shares of the credit-card processor’s stock after selling 9,403 shares during the quarter. Visa comprises about 1.3% of King Luther Capital Management Corp’s investment portfolio, making the stock its 17th biggest position. King Luther Capital Management Corp owned about 0.05% of Visa worth $302,634,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Riverstone Advisors LLC purchased a new position in Visa in the fourth quarter worth about $217,000. Journey Strategic Wealth LLC grew its position in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa in the fourth quarter worth about $10,163,000. Copley Financial Group Inc. purchased a new position in Visa in the third quarter worth about $616,000. Finally, Calamos Wealth Management LLC grew its position in Visa by 0.6% in the fourth quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after acquiring an additional 435 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of V stock opened at $341.07 on Tuesday. The business’s fifty day simple moving average is $336.69 and its 200-day simple moving average is $309.43. The company has a market cap of $633.63 billion, a PE ratio of 34.38, a PEG ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on V. JPMorgan Chase & Co. boosted their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Raymond James restated an “outperform” rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Morgan Stanley boosted their target price on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler restated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa 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.