Kesler Norman & Wride LLC Has $3.11 Million Stake in Visa Inc. (NYSE:V)

Kesler Norman & Wride LLC grew its stake in Visa Inc. (NYSE:V) by 535.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,146 shares of the credit-card processor’s stock after purchasing an additional 9,392 shares during the period. Kesler Norman & Wride LLC’s holdings in Visa were worth $3,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital International Investors boosted its position in shares of Visa by 2.7% during the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after acquiring an additional 596,950 shares in the last quarter. Capital World Investors boosted 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 valued at $4,659,169,000 after acquiring an additional 1,323,238 shares in the last quarter. Norges Bank acquired a new stake in shares of Visa during the 4th quarter valued at about $3,895,015,000. Jennison Associates LLC boosted its position in shares of Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Visa by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock valued at $2,725,079,000 after acquiring an additional 141,566 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. Citigroup lifted their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen began coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Wedbush lifted their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird lifted their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $303.56.

Visa Price Performance

Shares of NYSE V traded up $0.76 during trading on Thursday, reaching $268.99. The company had a trading volume of 5,017,760 shares, compared to its average volume of 9,395,944. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96. The stock has a market cap of $491.97 billion, a PE ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The business’s 50 day moving average price is $273.45 and its 200-day moving average price is $273.65.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. Analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the business’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 directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Paul D. Fabara sold 25,293 shares of the business’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 transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’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 transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by 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.