Litman Gregory Wealth Management LLC Has $16.53 Million Stake in Visa Inc. (NYSE:V)

Litman Gregory Wealth Management LLC trimmed its stake in Visa Inc. (NYSE:V) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,129 shares of the credit-card processor’s stock after selling 324 shares during the period. Visa accounts for about 1.4% of Litman Gregory Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $16,532,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Altus Wealth Group LLC raised its holdings in Visa by 3.2% in the 3rd quarter. Altus Wealth Group LLC now owns 7,035 shares of the credit-card processor’s stock worth $1,934,000 after acquiring an additional 218 shares during the period. Syntegra Private Wealth Group LLC grew its position in shares of Visa by 2.0% in the third quarter. Syntegra Private Wealth Group LLC now owns 10,514 shares of the credit-card processor’s stock valued at $2,891,000 after purchasing an additional 208 shares during the last quarter. Hartford Investment Management Co. increased its stake in shares of Visa by 4.2% in the third quarter. Hartford Investment Management Co. now owns 105,062 shares of the credit-card processor’s stock worth $28,887,000 after purchasing an additional 4,250 shares during the period. Greenleaf Trust lifted its position in shares of Visa by 8.5% during the 3rd quarter. Greenleaf Trust now owns 235,657 shares of the credit-card processor’s stock worth $64,794,000 after purchasing an additional 18,473 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Visa by 6.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 371,082 shares of the credit-card processor’s stock valued at $102,029,000 after purchasing an additional 21,164 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of Visa stock opened at $283.76 on Thursday. The stock has a market capitalization of $517.10 billion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.96 and a beta of 0.96. The firm’s 50-day moving average price is $278.40 and its two-hundred day moving average price is $273.10. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

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

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target for the company. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, BMO Capital Markets increased their target price on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Company 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.