Sugarloaf Wealth Management LLC Grows Stake in Visa Inc. (NYSE:V)

Sugarloaf Wealth Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,377 shares of the credit-card processor’s stock after purchasing an additional 305 shares during the period. Visa accounts for 0.7% of Sugarloaf Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Sugarloaf Wealth Management LLC’s holdings in Visa were worth $3,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC purchased a new position in Visa in the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC grew its stake 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 in the last quarter. TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Visa in the second quarter worth $35,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on V shares. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, TD Cowen cut their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Visa Stock Performance

NYSE V opened at $274.96 on Wednesday. The company has a 50-day simple moving average of $273.24 and a two-hundred day simple moving average of $272.74. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The firm has a market cap of $502.88 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.92 and a beta of 0.96. 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 issued its 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. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. On average, equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Company 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.