Kanawha Capital Management LLC Increases Stake in Visa Inc. (NYSE:V)

Kanawha Capital Management LLC boosted its stake in Visa Inc. (NYSE:V) by 2.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,517 shares of the credit-card processor’s stock after buying an additional 95 shares during the period. Kanawha Capital Management LLC’s holdings in Visa were worth $1,111,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of V. Elevation Wealth Partners LLC lifted its holdings in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares in the last quarter. Warther Private Wealth LLC lifted its holdings in shares of Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares in the last quarter. Crescent Grove Advisors LLC lifted its holdings in shares of Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares in the last quarter. Vicus Capital lifted its holdings in shares of Visa by 3.1% during the fourth quarter. Vicus Capital now owns 1,032 shares of the credit-card processor’s stock valued at $326,000 after purchasing an additional 31 shares in the last quarter. Finally, Phoenix Wealth Advisors lifted its holdings in shares of Visa by 3.4% during the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after purchasing an additional 32 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,056 shares of company stock valued at $19,830,050 in the last ninety days. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $353.73 on Monday. The stock has a 50 day moving average of $325.14 and a 200 day moving average of $299.19. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $356.08. The firm has a market cap of $657.15 billion, a PE ratio of 35.66, a PEG ratio of 2.32 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating 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%. On average, research analysts expect that Visa Inc. will post 11.27 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Robert W. Baird upped their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada upped their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.73.

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.