Sugarloaf Wealth Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 9.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,429 shares of the credit-card processor’s stock after buying an additional 1,274 shares during the period. Visa comprises 0.7% of Sugarloaf Wealth Management LLC’s holdings, making the stock its 18th largest position. Sugarloaf Wealth Management LLC’s holdings in Visa were worth $2,841,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of V. BlackRock Inc. lifted its stake in Visa by 1.9% in the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock valued at $27,962,374,000 after purchasing an additional 2,440,030 shares during the last quarter. State Street Corp lifted its stake in Visa by 2.1% in the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock valued at $16,154,022,000 after purchasing an additional 1,504,897 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Visa by 11.5% in the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock valued at $5,602,043,000 after purchasing an additional 2,659,845 shares during the last quarter. Wellington Management Group LLP lifted its stake in Visa by 33.1% in the 1st quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor’s stock valued at $4,928,211,000 after purchasing an additional 5,527,427 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in Visa by 3.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 14,615,166 shares of the credit-card processor’s stock valued at $3,167,253,000 after purchasing an additional 518,570 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on V shares. Wolfe Research cut their target price on shares of Visa from $285.00 to $260.00 in a research note on Wednesday, July 20th. Wells Fargo & Company lowered their price target on shares of Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Mizuho lowered their price target on shares of Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, July 1st. Robert W. Baird lowered their price target on shares of Visa from $290.00 to $265.00 in a report on Wednesday, July 20th. Finally, Susquehanna lowered their price target on shares of Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.64.
Visa Stock Performance
NYSE V opened at $192.07 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $363.09 billion, a price-to-earnings ratio of 28.33, a P/E/G ratio of 1.56 and a beta of 0.90. The firm’s 50 day simple moving average is $207.30 and its 200 day simple moving average is $207.27. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $236.96.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is 22.12%.
Insider Buying and Selling at Visa
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $195.37, for a total value of $1,758,330.00. Following the sale, the chief executive officer now owns 159,887 shares in the company, valued at $31,237,123.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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