Sitrin Capital Management LLC Has $6.37 Million Stake in Visa Inc. (NYSE:V)

Sitrin Capital Management LLC grew its stake in Visa Inc. (NYSE:V) by 0.3% during the second quarter, HoldingsChannel reports. The firm owned 24,260 shares of the credit-card processor’s stock after buying an additional 70 shares during the quarter. Visa accounts for about 3.4% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Sitrin Capital Management LLC’s holdings in Visa were worth $6,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC raised its holdings in shares of Visa by 2.5% during the second quarter. Peak Financial Advisors LLC now owns 9,202 shares of the credit-card processor’s stock valued at $2,415,000 after purchasing an additional 227 shares during the period. Curated Wealth Partners LLC raised its stake in Visa by 187.4% during the 2nd quarter. Curated Wealth Partners LLC now owns 3,387 shares of the credit-card processor’s stock worth $889,000 after buying an additional 7,261 shares during the period. Oak Asset Management LLC boosted its holdings in Visa by 1.3% in the second quarter. Oak Asset Management LLC now owns 16,806 shares of the credit-card processor’s stock worth $4,411,000 after acquiring an additional 215 shares in the last quarter. Jacobs & Co. CA grew its stake in Visa by 1.1% in the second quarter. Jacobs & Co. CA now owns 85,752 shares of the credit-card processor’s stock valued at $22,507,000 after acquiring an additional 900 shares during the period. Finally, Ignite Planners LLC increased its holdings in shares of Visa by 1.9% during the second quarter. Ignite Planners LLC now owns 2,725 shares of the credit-card processor’s stock valued at $737,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on V shares. Robert W. Baird raised their price objective on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. UBS Group upped their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Mizuho boosted their price target on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $307.25.

Visa Trading Up 0.2 %

Shares of NYSE V 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 stock has a market cap of $473.36 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. 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 firm’s fifty day moving average price is $267.56 and its 200-day moving average price is $273.90.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for 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%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Company 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.