Sax Wealth Advisors LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Sax Wealth Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V) by 53.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,211 shares of the credit-card processor’s stock after acquiring an additional 423 shares during the period. Sax Wealth Advisors LLC’s holdings in Visa were worth $318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors grew its holdings in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors grew its holdings in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth $3,895,015,000. Finally, Jennison Associates LLC boosted its holdings in shares of Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on V. Wedbush increased their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TD Cowen cut their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley cut their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.25.

Visa Stock Performance

V stock traded up $0.45 during midday trading on Friday, reaching $259.76. The company had a trading volume of 7,228,127 shares, compared to its average volume of 7,072,978. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $267.56 and a 200 day moving average price of $273.90. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The firm has a market capitalization of $473.36 billion, a PE ratio of 29.02, a P/E/G ratio of 1.82 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

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.