Sound Income Strategies LLC Increases Holdings in Visa Inc. (NYSE:V)

Sound Income Strategies LLC lifted its position in shares of Visa Inc. (NYSE:V) by 14.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,272 shares of the credit-card processor’s stock after acquiring an additional 547 shares during the quarter. Sound Income Strategies LLC’s holdings in Visa were worth $1,121,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of V. Nadler Financial Group Inc. lifted its stake in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares in the last quarter. Andrew Hill Investment Advisors Inc. purchased a new stake in Visa in the 4th quarter valued at approximately $3,427,000. Knights of Columbus Asset Advisors LLC lifted its stake in Visa by 1.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock valued at $19,636,000 after buying an additional 795 shares in the last quarter. Cedrus LLC lifted its stake in Visa by 10.1% in the 4th quarter. Cedrus LLC now owns 2,010 shares of the credit-card processor’s stock valued at $523,000 after buying an additional 184 shares in the last quarter. Finally, Hilltop National Bank purchased a new stake in Visa in the 1st quarter valued at approximately $1,212,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Wedbush boosted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group upped their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup dropped their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Mizuho increased their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.25.

Visa Price Performance

Shares of NYSE V traded up $0.45 during mid-day trading on Friday, reaching $259.76. 7,228,127 shares of the company traded hands, compared to its average volume of 7,072,978. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm 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. The stock has a fifty day simple moving average of $267.56 and a 200-day simple moving average of $273.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS 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 analyst estimates of $8.92 billion. During the same quarter last year, the business earned $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

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.