Litman Gregory Wealth Management LLC increases holdings in Visa Inc. (NYSE:V)

Litman Gregory Wealth Management LLC grew its position in shares of Visa Inc. (NYSE:V – Free Report) by 2.7% during the second quarter, HoldingsChannel reports. The firm owned 60,453 shares of the credit card processor’s stock after acquiring an additional 1,579 shares during the quarter. Visa makes up about 1.4% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 17th largest holding. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $15,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Livelsberger Financial Advisory purchased a new position in Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter valued at about $25,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit card processor’s stock valued at $34,000 after acquired another 89 shares during the period. 82.15% of the shares are currently held by hedge funds and other institutional investors.

Visa stock performance

Shares of V opened at $276.37 on Friday. The company has a market cap of $503.63 billion, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 1.95 and a beta of 0.95. 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 Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The stock’s fifty day moving average price is $265.70 and its 200 day moving average price is $273.13.

Visa (NYSE:V – Get Your Free Report ) last posted its quarterly earnings data 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. In the same quarter last year, the firm posted earnings of $2.16 per share. The company’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents an annualized dividend of $2.08 and a yield of 0.75%. The ex-dividend date is Friday, August 9. Visa’s dividend payout ratio is currently 23.24%.

Analysts set new price targets

Several analysts have weighed in on the company. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Morgan Stanley cut their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Bank of America restated a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, William Blair raised 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-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.50, according to MarketBeat .

Check out our latest report on V

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 the 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 payment solution for consumers; and Visa DPS, which offers 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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