Sugarloaf Wealth Management LLC Sells 583 Shares of Visa Inc. (NYSE:V)

Sugarloaf Wealth Management LLC lessened its stake in Visa Inc. (NYSE:V) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,794 shares of the credit-card processor’s stock after selling 583 shares during the quarter. Visa comprises 0.7% of Sugarloaf Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. Sugarloaf Wealth Management LLC’s holdings in Visa were worth $4,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Visa by 45,189.4% in the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares during the period. State Street Corp increased its position in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the period. FMR LLC raised its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Trading Down 1.6 %

V stock traded down $4.88 on Friday, hitting $307.72. 3,706,628 shares of the company were exchanged, compared to its average volume of 4,985,953. The business’s fifty day moving average is $311.80 and its two-hundred day moving average is $286.63. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $573.24 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business posted $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. Visa’s payout ratio is 24.25%.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Citigroup lifted their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada boosted their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.85.

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.