Fairscale Capital LLC Invests $2.03 Million in Visa Inc. (NYSE:V)

Fairscale Capital LLC acquired a new position in shares of Visa Inc. (NYSE:V) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 7,542 shares of the credit-card processor’s stock, valued at approximately $2,031,000. Visa accounts for about 1.7% of Fairscale Capital LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Livelsberger Financial Advisory acquired a new position in Visa during the 4th quarter valued at approximately $25,000. Westend Capital Management LLC bought a new stake in Visa in the first quarter valued at $25,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC boosted its stake in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.2 %

Shares of V opened at $284.77 on Friday. The business’s 50-day moving average price is $270.65 and its 200 day moving average price is $273.45. 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 stock has a market capitalization of $520.83 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.05 and a beta of 0.96. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business 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 firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. Analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on V. Bank of America raised their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Jefferies Financial Group reduced their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Evercore ISI reduced their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

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.