First Affirmative Financial Network Increases Stock Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

First Affirmative Financial Network increased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 95.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,445 shares of the credit-card processor’s stock after buying an additional 3,636 shares during the quarter. Visa comprises approximately 1.1% of First Affirmative Financial Network’s portfolio, making the stock its 11th biggest holding. First Affirmative Financial Network’s holdings in Visa were worth $2,047,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in V. Jessup Wealth Management Inc increased its holdings in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares in the last quarter. Cordatus Wealth Management LLC grew its holdings in shares of Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after buying an additional 37 shares in the last quarter. Tlwm grew its holdings in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares in the last quarter. Meridian Financial Partners LLC raised its position in Visa by 0.5% in the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after buying an additional 38 shares during the last quarter. Finally, First National Corp MA ADV lifted its stake in Visa by 1.0% in the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

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

Visa Stock Up 0.1 %

Shares of NYSE V opened at $277.79 on Friday. The stock has a 50-day moving average price of $274.16 and a two-hundred day moving average price of $272.72. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. 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 company has a market cap of $506.22 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 EPS. As a group, analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 22.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer initiated coverage on Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective for the company. Citigroup lowered their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. BMO Capital Markets increased their price objective on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. TD Cowen lowered their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Six research 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 company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Get Our Latest Stock Report on Visa

Visa Profile

(Free Report)

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.

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