Visa Inc. (NYSE:V) Shares Sold by Koshinski Asset Management Inc.

Posted by Defense World Staff on Jun 24th, 2023

Koshinski Asset Management Inc. lowered its position in shares of Visa Inc. (NYSE:V – Get Rating) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,957 shares of the credit-card processor’s stock after selling 118 shares during the period. Koshinski Asset Management Inc.’s holdings in Visa were worth $2,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in Visa by 116,608.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after buying an additional 24,483,134 shares during the period. Norges Bank purchased a new position in Visa in the 4th quarter valued at approximately $3,067,232,000. Morgan Stanley boosted its position in Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after buying an additional 5,864,340 shares during the period. Cottage Street Advisors LLC boosted its position in Visa by 15,603.1% in the 4th quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock valued at $998,000 after buying an additional 3,136,223 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Visa by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock valued at $10,616,564,000 after buying an additional 2,216,275 shares during the period. Institutional investors and hedge funds own 84.92% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Vasant M. Prabhu sold 13,343 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $234.26, for a total value of $3,125,731.18. Following the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,250,437.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the completion of the sale, the chief financial officer now owns 73,638 shares in the company, valued at $17,036,887.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,277 shares of company stock worth $27,018,374. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

V has been the subject of several recent research reports. KeyCorp raised their price target on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Truist Financial lifted their price objective on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. BMO Capital Markets lifted their price objective on shares of Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. Oppenheimer lifted their price objective on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Finally, Robert W. Baird lifted their price objective on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $260.08.

Visa Trading Up 0.5 %

Shares of Visa stock opened at $229.55 on Friday. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $235.57. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The company’s 50-day simple moving average is $228.61 and its 200-day simple moving average is $223.07. The firm has a market cap of $430.02 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.79 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 annualized dividend and a yield of 0.78%. Visa’s payout ratio is currently 24.06%.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.