Litman Gregory Wealth Management LLC Has $15.87 Million Stake in Visa Inc. (NYSE:V)

Litman Gregory Wealth Management LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,453 shares of the credit-card processor’s stock after buying an additional 1,579 shares during the period. Visa makes up approximately 1.4% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $15,867,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares in the last quarter. Capital International Investors raised its position in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares in the last quarter. Capital World Investors lifted its stake in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares during the last quarter. Norges Bank bought a new position in shares of Visa in the 4th quarter valued at about $3,895,015,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Visa by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock worth $2,725,079,000 after purchasing an additional 141,566 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $276.37 on Friday. 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 fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a market cap of $503.63 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.95 and a beta of 0.95. The stock has a fifty day moving average price of $265.70 and a 200-day moving average price of $273.13.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’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 posted $2.16 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on V shares. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

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.