Foster Victor Wealth Advisors LLC Has $10.87 Million Stock Holdings in Visa Inc. $V

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Visa Inc. by 3.0% during the 2nd quarter, now holding a total of $10.87 million in Visa stock.
• Recent earnings reported a 12-month revenue growth of 14.3%, with Visa achieving an EPS of $2.98, exceeding estimates by $0.13.
• Visa announced a quarterly dividend of $0.59 per share, representing a 0.7% yield and a payout ratio of 23.05%.

Foster Victor Wealth Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,383 shares of the credit-card processor's stock after buying an additional 893 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Visa were worth $10,870,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Lakeridge Wealth Management LLC raised its stake in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC raised its position in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after buying an additional 3,484 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. lifted its stake in Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

NYSE:V opened at $335.09 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average price is $344.89 and its two-hundred day moving average price is $346.22. The firm has a market capitalization of $614.15 billion, a price-to-earnings ratio of 32.72, a P/E/G ratio of 2.25 and a beta of 0.92. Visa Inc. has a 12-month low of $270.00 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the company posted $2.42 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Analyst Ratings Changes

V has been the topic of a number of recent research reports. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Barclays restated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Finally, Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $385.96.

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.

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