Sterling Investment Management LLC Buys 3,270 Shares of Visa Inc. (NYSE:V)

Sterling Investment Management LLC increased its stake in Visa Inc. (NYSE:V) by 40.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,338 shares of the credit-card processor’s stock after acquiring an additional 3,270 shares during the period. Visa comprises 2.4% of Sterling Investment Management LLC’s investment portfolio, making the stock its 11th biggest position. Sterling Investment Management LLC’s holdings in Visa were worth $3,117,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC boosted its stake in Visa by 970.0% in 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. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during 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 period. Abich Financial Wealth Management LLC raised its position in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.1 %

Shares of NYSE:V opened at $290.62 on Monday. The business’s 50-day moving average is $276.91 and its 200-day moving average is $272.88. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a market capitalization of $531.53 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $2.16 earnings per share. Equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on V shares. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Four research 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 company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Insider Activity

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 value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.