Fairhaven Wealth Management LLC Has $5.67 Million Stock Position in Visa Inc. (NYSE:V)

Fairhaven Wealth Management LLC boosted its stake in Visa Inc. (NYSE:V) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,318 shares of the credit-card processor’s stock after purchasing an additional 2,329 shares during the quarter. Visa comprises about 1.9% of Fairhaven Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. Fairhaven Wealth Management LLC’s holdings in Visa were worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Livelsberger Financial Advisory bought a new position in shares of Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new position in Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new position in Visa in the 4th quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Visa in the 4th quarter valued at $37,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Mizuho lifted their target price on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Evercore ISI decreased their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Robert W. Baird boosted their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Finally, Citigroup upped their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Visa Stock Performance

Shares of Visa stock traded up $1.37 on Friday, reaching $270.36. 7,986,435 shares of the company traded hands, compared to its average volume of 9,135,279. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $494.47 billion, a PE ratio of 30.21, a PEG ratio of 1.84 and a beta of 0.95. The company has a 50 day moving average of $273.24 and a 200 day moving average of $273.70. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 earnings per share. Equities analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.