Sax Wealth Advisors LLC Has $318,000 Holdings in Visa Inc. (NYSE:V)

Sax Wealth Advisors LLC increased its stake in shares of Visa Inc. (NYSE:V) by 53.7% in the second quarter, Holdings Channel reports. The firm owned 1,211 shares of the credit-card processor’s stock after buying an additional 423 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Visa were worth $318,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Firethorn Wealth Partners LLC grew its stake in Visa by 19.6% in the fourth quarter. Firethorn Wealth Partners LLC now owns 1,437 shares of the credit-card processor’s stock valued at $374,000 after acquiring an additional 235 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Visa by 3.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 545,912 shares of the credit-card processor’s stock valued at $142,128,000 after purchasing an additional 17,780 shares in the last quarter. Zweig DiMenna Associates LLC lifted its holdings in shares of Visa by 19.5% in the fourth quarter. Zweig DiMenna Associates LLC now owns 58,190 shares of the credit-card processor’s stock valued at $15,150,000 after purchasing an additional 9,500 shares in the last quarter. One Wealth Management Investment & Advisory Services LLC bought a new stake in shares of Visa in the fourth quarter valued at about $1,666,000. Finally, Wallington Asset Management LLC lifted its holdings in shares of Visa by 0.7% in the fourth quarter. Wallington Asset Management LLC now owns 76,703 shares of the credit-card processor’s stock valued at $19,970,000 after purchasing an additional 550 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on Visa from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Wedbush upped their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Oppenheimer upped their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $307.25.

Visa Stock Performance

Shares of NYSE V traded up $0.45 during trading hours on Friday, reaching $259.76. 7,228,127 shares of the stock were exchanged, compared to its average volume of 7,072,978. The firm has a market capitalization of $473.36 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.82 and a beta of 0.95. The stock’s fifty day simple moving average is $267.56 and its 200 day simple moving average is $273.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.16 EPS. Sell-side analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated 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 sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.