Sierra Summit Advisors LLC Grows Position in Visa Inc. (NYSE:V)

Sierra Summit Advisors LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 7.3% in the second quarter, Holdings Channel.com reports. The firm owned 29,512 shares of the credit-card processor’s stock after buying an additional 1,997 shares during the period. Visa comprises about 1.9% of Sierra Summit Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Sierra Summit Advisors LLC’s holdings in Visa were worth $7,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of V. Brio Consultants LLC lifted its holdings in Visa by 39.1% during the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after purchasing an additional 437 shares in the last quarter. Gilbert & Cook Inc. boosted its position in shares of Visa by 2.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after acquiring an additional 158 shares during the period. Aveo Capital Partners LLC grew its stake in Visa by 9.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock valued at $730,000 after acquiring an additional 235 shares in the last quarter. 9258 Wealth Management LLC boosted its stake in Visa by 20.8% during the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after buying an additional 1,387 shares during the period. Finally, Gryphon Financial Partners LLC lifted its position in Visa by 53.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after purchasing an additional 4,774 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $309.81.

Visa Stock Up 0.7 %

Shares of Visa stock opened at $287.35 on Monday. The company has a 50-day simple moving average of $268.29 and a two-hundred day simple moving average of $273.16. The stock has a market capitalization of $523.64 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. 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 (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during 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%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. On average, analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In related 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 completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

About Visa

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.