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

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Sugarloaf Wealth Management LLC lifted its stake in Visa Inc. (NYSE:VGet Rating) by 4.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,155 shares of the credit-card processor’s stock after buying an additional 548 shares during the quarter. Visa makes up about 0.7% of Sugarloaf Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Sugarloaf Wealth Management LLC’s holdings in Visa were worth $2,938,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Burleson & Company LLC increased its position in Visa by 2,002.1% in the first quarter. Burleson & Company LLC now owns 12,907 shares of the credit-card processor’s stock worth $2,862,000 after purchasing an additional 12,293 shares during the last quarter. Bell Bank increased its position in Visa by 5.1% in the first quarter. Bell Bank now owns 6,297 shares of the credit-card processor’s stock worth $1,396,000 after purchasing an additional 306 shares during the last quarter. Grant GrossMendelsohn LLC increased its position in Visa by 81.2% in the first quarter. Grant GrossMendelsohn LLC now owns 3,573 shares of the credit-card processor’s stock worth $770,000 after purchasing an additional 1,601 shares during the last quarter. Aevitas Wealth Management Inc. increased its position in Visa by 10.8% in the first quarter. Aevitas Wealth Management Inc. now owns 2,581 shares of the credit-card processor’s stock worth $572,000 after purchasing an additional 251 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. increased its position in Visa by 1.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 18,141 shares of the credit-card processor’s stock worth $4,023,000 after purchasing an additional 214 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Visa from $285.00 to $265.00 in a research report on Monday, April 25th. Cowen reduced their price target on shares of Visa from $276.00 to $254.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 27th. Mizuho reduced their price target on shares of Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, July 1st. Evercore ISI boosted their price objective on shares of Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, April 27th. Finally, Morgan Stanley boosted their price objective on shares of Visa from $279.00 to $284.00 in a research report on Wednesday, April 27th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $264.17.

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $210.38, for a total value of $1,893,420.00. Following the completion of the sale, the chief executive officer now directly owns 162,887 shares of the company’s stock, valued at $34,268,167.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 27,000 shares of company stock valued at $5,619,330. 0.21% of the stock is owned by insiders.

NYSE:V opened at $203.57 on Monday. Visa Inc. has a 1-year low of $185.91 and a 1-year high of $252.67. The company has a 50-day moving average of $202.16 and a 200 day moving average of $211.31. The firm has a market cap of $387.04 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Visa (NYSE:VGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The company had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 7.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.58%.

Visa Profile (Get Rating)

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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