Sterling Investment Management LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

Sterling Investment Management LLC boosted its position in shares of Visa Inc. (NYSE:V – Free Report) by 53.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,068 shares of the credit-card processor’s stock after purchasing an additional 2,812 shares during the period. Visa makes up 1.6% of Sterling Investment Management LLC’s holdings, making the stock its 21st biggest holding. Sterling Investment Management LLC’s holdings in Visa were worth $2,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the 4th quarter worth about $25,000. Westend Capital Management LLC purchased a new position in Visa during the first quarter worth about $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC lifted its holdings 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 worth $34,000 after acquiring an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on V. Mizuho lifted their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Citigroup dropped their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

Read Our Latest Research Report on Visa

Visa Stock Down 0.6 %

V stock traded down $1.53 during midday trading on Wednesday, reaching $269.19. 5,392,022 shares of the company were exchanged, compared to its average volume of 9,001,038. The company has a market cap of $490.55 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The stock’s 50-day simple moving average is $265.81 and its 200 day simple moving average is $273.14.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $2.16 EPS. On average, equities analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Visa Company Profile

(Free Report)

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.

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