Foster Victor Wealth Advisors LLC Raises Stock Holdings in Visa Inc. (NYSE:V)

Foster Victor Wealth Advisors LLC grew its stake in Visa Inc. (NYSE:V) by 25.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,023 shares of the credit-card processor’s stock after buying an additional 6,095 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Visa were worth $8,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Duncan Williams Asset Management LLC purchased a new stake in shares of Visa during the first quarter worth about $1,188,000. Orrstown Financial Services Inc. grew its position in shares of Visa by 2.6% during the first quarter. Orrstown Financial Services Inc. now owns 6,247 shares of the credit-card processor’s stock worth $1,743,000 after purchasing an additional 161 shares in the last quarter. Moody National Bank Trust Division grew its position in shares of Visa by 0.5% during the first quarter. Moody National Bank Trust Division now owns 28,167 shares of the credit-card processor’s stock worth $7,861,000 after purchasing an additional 135 shares in the last quarter. Davis Capital Management grew its position in shares of Visa by 1.8% during the first quarter. Davis Capital Management now owns 6,342 shares of the credit-card processor’s stock worth $1,765,000 after purchasing an additional 111 shares in the last quarter. Finally, Capital Market Strategies LLC purchased a new stake in shares of Visa during the first quarter worth about $210,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on V shares. BMO Capital Markets increased their target price on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Macquarie restated an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

Visa Price Performance

V opened at $279.29 on Wednesday. The business has a fifty day moving average of $275.07 and a 200 day moving average of $272.63. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $510.80 billion, a P/E ratio of 31.21, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% 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.