Foyston Gordon & Payne Inc Boosts Stock Position in Visa Inc. (NYSE:V)

Foyston Gordon & Payne Inc raised its position in Visa Inc. (NYSE:V) by 2.1% in the 3rd quarter, Holdings Channel reports. The fund owned 16,780 shares of the credit-card processor’s stock after acquiring an additional 347 shares during the period. Foyston Gordon & Payne Inc’s holdings in Visa were worth $4,614,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC increased its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares in the last quarter. Legal & General Group Plc grew its stake in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after acquiring an additional 123,927 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.9 %

Shares of NYSE V opened at $308.30 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $317.42. The stock’s 50-day simple moving average is $296.38 and its 200-day simple moving average is $279.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $574.33 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 2.09 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 24.25%.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on V. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $323.41.

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.