Sweet Financial Partners LLC Has $3.96 Million Stock Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

Sweet Financial Partners LLC decreased its position in Visa Inc. (NYSE:V – Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,389 shares of the credit-card processor’s stock after selling 114 shares during the period. Visa comprises approximately 0.9% of Sweet Financial Partners LLC’s holdings, making the stock its 19th largest holding. Sweet Financial Partners LLC’s holdings in Visa were worth $3,956,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors boosted its holdings in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors grew its stake in shares of Visa by 5.4% in 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 purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after buying an additional 312,286 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Finally, BMO Capital Markets lifted their target price on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Check Out Our Latest Stock Analysis on Visa

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Trading Up 1.0 %

NYSE:V opened at $290.38 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The firm has a market capitalization of $531.09 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.94 and a beta of 0.96. The business’s 50-day moving average price is $276.30 and its two-hundred day moving average price is $272.86.

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

Visa Announces Dividend

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

About Visa

(Free Report)

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.

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