Sanctuary Advisors LLC Purchases Shares of 318,470 Visa Inc. (NYSE:V)

Sanctuary Advisors LLC purchased a new stake in Visa Inc. (NYSE:V) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 318,470 shares of the credit-card processor’s stock, valued at approximately $87,426,000. Visa makes up about 0.6% of Sanctuary Advisors LLC’s holdings, making the stock its 22nd biggest position.

Other institutional investors have also made changes to their positions in the company. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC increased its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Visa stock opened at $277.62 on Wednesday. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The firm has a market capitalization of $507.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.94 and a beta of 0.96. The company has a fifty day simple moving average of $271.71 and a 200-day simple moving average of $273.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Analysts Set New Price Targets

Several equities research analysts recently commented on V shares. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Finally, Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.93.

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.