Sierra Summit Advisors LLC Acquires 1,997 Shares of Visa Inc. (NYSE:V)

Sierra Summit Advisors LLC lifted its position in Visa Inc. (NYSE:V) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,512 shares of the credit-card processor’s stock after buying an additional 1,997 shares during the quarter. Visa comprises approximately 1.9% of Sierra Summit Advisors LLC’s holdings, making the stock its 23rd biggest position. Sierra Summit Advisors LLC’s holdings in Visa were worth $7,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in V. Vanguard Group Inc. raised 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 buying an additional 788,908 shares during the period. Capital International Investors raised its stake in Visa by 2.7% in 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 acquiring an additional 626,618 shares during the period. Capital World Investors boosted its position in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Visa by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after buying an additional 166,767 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Visa by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 8,500,044 shares of the credit-card processor’s stock valued at $2,212,986,000 after acquiring an additional 125,784 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.7 %

Shares of Visa stock opened at $287.35 on Monday. The stock’s 50-day moving average is $268.29 and its 200 day moving average is $273.16. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The firm has a market cap of $523.64 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 EPS. Equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on V shares. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

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.