Foguth Wealth Management LLC. Makes New $292,000 Investment in Visa Inc. (NYSE:V)

Foguth Wealth Management LLC. bought a new position in shares of Visa Inc. (NYSE:V) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,046 shares of the credit-card processor’s stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors grew its holdings in shares of Visa by 2.7% during the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after acquiring an additional 596,950 shares during the period. Capital World Investors grew its holdings in shares of Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after acquiring an additional 1,323,238 shares during the period. Norges Bank purchased a new stake in shares of Visa in the 4th quarter worth approximately $3,895,015,000. Ameriprise Financial Inc. grew its stake in shares of Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after buying an additional 374,489 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V traded down $4.12 during midday trading on Friday, hitting $262.47. 13,957,270 shares of the stock traded hands, compared to its average volume of 8,762,266. The firm has a 50-day moving average of $273.88 and a two-hundred day moving average of $273.50. The firm has a market capitalization of $480.04 billion, a P/E ratio of 29.33, a PEG ratio of 1.82 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a one year low of $227.68 and a one year high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the firm earned $2.09 EPS. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Robert W. Baird upped their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday. Oppenheimer upped their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their price target on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Citigroup upped their price target on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $303.56.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by company 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.