Foundations Investment Advisors LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Key Points

• Foundations Investment Advisors LLC increased its holdings in Visa Inc. by 4.0% during the 1st quarter, totaling 60,020 shares valued at $21,035,000.
• CEO Ryan Mcinerney sold 8,630 shares of Visa stock, marking a 94.14% decrease in his position, while other insiders also sold significant amounts of shares recently.
• Visa reported a quarterly EPS of $2.76, exceeding expectations, along with revenue of $9.59 billion, reflecting a 9.3% increase year-over-year.

Foundations Investment Advisors LLC increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,020 shares of the credit-card processor's stock after buying an additional 2,302 shares during the period. Foundations Investment Advisors LLC's holdings in Visa were worth $21,035,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in V. von Borstel & Associates Inc. purchased a new position in Visa in the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the fourth quarter valued at approximately $47,000. O Brien Wealth Partners LLC purchased a new position in Visa in the first quarter valued at approximately $54,000. Global X Japan Co. Ltd. purchased a new position in Visa in the first quarter valued at approximately $56,000. Finally, Cedar Mountain Advisors LLC increased its stake in Visa by 28.5% in the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock valued at $59,000 after purchasing an additional 37 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction 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 transaction, the insider 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 disclosure for this sale can be found here. In the last three months, insiders sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on V. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $379.04.

Visa Price Performance

Visa stock traded down $1.96 during midday trading on Thursday, reaching $348.95. The company's stock had a trading volume of 4,002,854 shares, compared to its average volume of 6,584,005. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock's 50 day simple moving average is $355.61 and its 200 day simple moving average is $345.86. The firm has a market capitalization of $643.87 billion, a PE ratio of 34.14, a P/E/G ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 59.03% 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 quarter last year, the company earned $2.42 earnings per share. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio (DPR) is currently 23.05%.

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.