Marshfield Associates Acquires 6,790 Shares of Visa Inc. $V

Key Points

• Marshfield Associates increased its holdings in Visa Inc. by 0.7% in Q1, now owning 940,571 shares worth $329.63 million, representing approximately 7.1% of its overall holdings.
• Visa reported earnings of $2.98 per share, surpassing analyst expectations of $2.85, with quarterly revenue reaching $10.17 billion, a year-over-year increase of 14.3%.
• The company announced a quarterly dividend of $0.59 per share, scheduled for payment on September 2nd, with an annualized dividend yield of 0.7%.

Marshfield Associates increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 940,571 shares of the credit-card processor's stock after buying an additional 6,790 shares during the period. Visa comprises about 7.1% of Marshfield Associates' portfolio, making the stock its 4th biggest position. Marshfield Associates owned 0.05% of Visa worth $329,632,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in Visa in the first quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the fourth quarter valued at approximately $47,000. O Brien Wealth Partners LLC acquired a new position in Visa in the first quarter valued at approximately $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in Visa in the first quarter valued at approximately $56,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE:V traded up $0.28 during trading hours on Wednesday, hitting $350.35. The company's stock had a trading volume of 4,035,731 shares, compared to its average volume of 6,513,681. The business's 50-day moving average is $348.47 and its two-hundred day moving average is $347.36. The company has a market capitalization of $642.11 billion, a PE ratio of 34.21, a PEG ratio of 2.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the business posted $2.42 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Truist Financial decreased 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, Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $383.17.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,507 shares of company stock worth $25,213,475 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Visa Company 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.