Sunbeam Capital Management LLC Purchases 157 Shares of Visa Inc. $V

Sunbeam Capital Management LLC boosted its position in Visa Inc. (NYSE:V) by 10.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,711 shares of the credit-card processor’s stock after purchasing an additional 157 shares during the period. Sunbeam Capital Management LLC’s holdings in Visa were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the first quarter worth approximately $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the second quarter worth approximately $28,000. Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new position in shares of Visa during the first quarter worth approximately $38,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Shares of V stock opened at $343.63 on Friday. The firm has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.06 and a beta of 0.90. The company’s 50 day moving average is $343.77 and its 200 day moving average is $346.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $275.37 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

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.