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

Sugarloaf Wealth Management LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,794 shares of the credit-card processor’s stock after selling 583 shares during the period. Visa makes up approximately 0.7% of Sugarloaf Wealth Management LLC’s holdings, making the stock its 21st largest holding. Sugarloaf Wealth Management LLC’s holdings in Visa were worth $4,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Custom Index Systems LLC bought a new position in shares of Visa in the 3rd quarter worth $731,000. Copley Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at approximately $616,000. FORA Capital LLC acquired a new position in Visa during the third quarter valued at approximately $7,987,000. Chicago Capital LLC increased its holdings in Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC lifted its stake in Visa by 5,034.0% in the 3rd quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V traded down $4.88 during trading on Friday, hitting $307.72. 3,706,628 shares of the company traded hands, compared to its average volume of 4,985,953. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $311.80 and its 200-day moving average is $286.63. The stock has a market capitalization of $573.24 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $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. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on V shares. Oppenheimer lifted their target price on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Susquehanna boosted their price target on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research note on Wednesday, December 11th. Finally, Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target 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.