Foster & Motley Inc. Raises Stock Position in Visa Inc. (NYSE:V)

Foster & Motley Inc. grew its holdings in Visa Inc. (NYSE:V) by 43.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,681 shares of the credit-card processor’s stock after purchasing an additional 1,716 shares during the quarter. Foster & Motley Inc.’s holdings in Visa were worth $1,491,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in V. Livelsberger Financial Advisory acquired a new stake in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new stake in Visa in the first quarter valued at approximately $25,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on V. Royal Bank of Canada decreased their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Citigroup lowered their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley dropped their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Bank of America restated a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Stock Performance

Shares of V opened at $278.62 on Friday. The stock has a market capitalization of $509.58 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.95 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company’s fifty day moving average is $266.18 and its two-hundred day moving average is $273.14.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.16 EPS. On average, sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

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.