Foster & Motley Inc. Buys 5,419 Shares of Visa Inc. (NYSE:V)

Key Points

• Foster & Motley Inc. increased its stock position in Visa Inc. by 42.0% in the first quarter, owning a total of 18,313 shares worth approximately $6.42 million as of its latest SEC filing.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding expectations of $2.85, along with a 14.3% year-over-year revenue increase to $10.17 billion.
• The company announced a quarterly dividend of $0.59 to be paid on September 2nd, representing an annualized yield of 0.67%.

Foster & Motley Inc. increased its position in Visa Inc. (NYSE:V - Free Report) by 42.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,313 shares of the credit-card processor's stock after buying an additional 5,419 shares during the quarter. Foster & Motley Inc.'s holdings in Visa were worth $6,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors boosted its holdings in shares of Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors boosted its holdings in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on V. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday. Finally, Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

V traded down $6.66 during midday trading on Friday, hitting $338.81. 8,655,366 shares of the company traded hands, compared to its average volume of 6,632,218. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $625.16 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The company's 50-day moving average is $355.36 and its 200 day moving average is $346.13. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last released 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 firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Insider Activity

In related news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,913 shares of company stock valued at $32,902,432 in the last ninety days. Insiders own 0.13% of the company's stock.

Visa 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.