Lodestone Wealth Management LLC Raises Holdings in Visa Inc. (NYSE:V)

Lodestone Wealth Management LLC lifted its position in shares of Visa Inc. (NYSE:V) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,364 shares of the credit-card processor’s stock after buying an additional 137 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Visa were worth $1,933,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors increased its holdings in shares of 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 raised its position 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 worth $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Norges Bank purchased a new stake in shares of Visa during the 4th quarter worth $3,895,015,000. Finally, Jennison Associates LLC boosted its position in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE V traded up $0.47 during trading hours on Wednesday, hitting $260.60. 2,722,829 shares of the company’s stock traded hands, compared to its average volume of 7,202,975. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The company has a market capitalization of $474.89 billion, a PE ratio of 29.08, a PEG ratio of 1.83 and a beta of 0.95. The firm’s 50-day moving average is $267.11 and its 200-day moving average is $273.77. 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 earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on V shares. Oppenheimer boosted their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wedbush raised their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Morgan Stanley decreased their price target on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $307.25.

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.