Visa Inc. (NYSE:V) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,490 shares of the credit-card processor’s stock after selling 1,913 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Visa were worth $9,832,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the last quarter. Capital International Investors lifted its position in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after buying an additional 866,596 shares during the last quarter. Capital World Investors lifted its position in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after buying an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V opened at $352.75 on Friday. The firm’s 50 day moving average is $349.76 and its 200-day moving average is $337.61. The stock has a market capitalization of $650.87 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 EPS. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on V shares. BMO Capital Markets raised their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,448 shares of company stock valued at $50,133,659 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

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.