Fairfield Financial Advisors LTD Lowers Position in Visa Inc. $V

Fairfield Financial Advisors LTD cut its holdings in Visa Inc. (NYSE:V) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,574 shares of the credit-card processor’s stock after selling 143 shares during the quarter. Visa makes up about 1.8% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its 16th largest position. Fairfield Financial Advisors LTD’s holdings in Visa were worth $5,174,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. boosted its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its position in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares during the last quarter. BankPlus Wealth Management LLC lifted its position in shares of Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares during the last quarter. Transcendent Capital Group LLC lifted its position in shares of Visa by 2.9% during the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC lifted its position in shares of Visa by 11.1% during the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, 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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $344.53 on Friday. The firm has a market capitalization of $631.44 billion, a P/E ratio of 33.74, a PEG ratio of 2.02 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $344.94 and a 200 day moving average price of $348.27. Visa Inc. has a 52 week low of $287.19 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is presently 23.11%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa 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.