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

Litman Gregory Wealth Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 biggest holding. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $16,532,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Hilltop National Bank bought a new stake in shares of Visa in the 1st quarter valued at about $1,212,000. Absolute Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $404,000. Davidson Capital Management Inc. lifted its position in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC boosted its holdings in Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital grew its position in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $283.76 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $278.40 and a 200 day simple moving average of $273.10. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The stock has a market cap of $517.10 billion, a P/E ratio of 30.35, a PEG ratio of 1.96 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada reduced their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Finally, Jefferies Financial Group cut their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

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.