Foster & Motley Inc. Raises Stock Position in Visa Inc. $V

Foster & Motley Inc. grew its holdings in Visa Inc. (NYSE:V) by 40.4% during the second quarter, HoldingsChannel.com reports. The fund owned 25,710 shares of the credit-card processor’s stock after purchasing an additional 7,397 shares during the quarter. Foster & Motley Inc.’s holdings in Visa were worth $9,128,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in V. Keystone Global Partners LLC purchased a new stake in Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the 2nd quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in Visa during the 1st quarter worth $27,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $344.44 on Tuesday. The firm has a market cap of $631.28 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The firm has a fifty day moving average of $344.47 and a two-hundred day moving average of $347.11.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is 23.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on V shares. Barclays reaffirmed an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

About Visa

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.