RFG Bristol Wealth Advisors LLC Lowers Stock Holdings in Visa Inc. $V

RFG Bristol Wealth Advisors LLC reduced its stake in Visa Inc. (NYSE:V) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,756 shares of the credit-card processor’s stock after selling 1,542 shares during the quarter. Visa accounts for 1.1% of RFG Bristol Wealth Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. RFG Bristol Wealth Advisors LLC’s holdings in Visa were worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of V. Brighton Jones LLC boosted its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Kingsman Wealth Management Inc. purchased a new stake in shares of Visa in the first quarter valued at approximately $1,935,000. Capital & Planning LLC boosted its stake in shares of Visa by 25.1% in the first quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock valued at $416,000 after buying an additional 238 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. boosted its stake in shares of Visa by 4.6% in the first quarter. Brass Tax Wealth Management Inc. now owns 2,447 shares of the credit-card processor’s stock valued at $857,000 after buying an additional 108 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 over the last three months. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Robert W. Baird set a $425.00 price objective on Visa in a report on Wednesday, October 29th. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Performance

Shares of V stock opened at $340.31 on Thursday. The stock has a fifty day moving average price of $344.10 and a 200 day moving average price of $348.59. The stock has a market cap of $623.72 billion, a PE ratio of 33.33, a P/E/G ratio of 2.06 and a beta of 0.87. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. 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 payout ratio is presently 26.25%.

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.