Visa Inc. (NYSE:V) Shares Bought by FCG Investment Co

Key Points

• FCG Investment Co increased its stake in Visa Inc. by 396.4%, owning 10,241 shares valued at approximately $3.59 million, making Visa its 10th largest position.
• Visa announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7%, set to be paid on September 2nd.
• Visa's latest earnings report for July showed an EPS of $2.98, surpassing analyst expectations, with revenues reaching $10.17 billion, a 14.3% increase year-over-year.

FCG Investment Co grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 396.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,241 shares of the credit-card processor's stock after acquiring an additional 8,178 shares during the quarter. Visa comprises about 2.3% of FCG Investment Co's holdings, making the stock its 10th largest position. FCG Investment Co's holdings in Visa were worth $3,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter worth about $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the 4th quarter worth about $47,000. Navigoe LLC purchased a new stake in shares of Visa during the 4th quarter worth about $53,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth about $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of Visa during the 1st quarter worth about $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following 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 is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,100 shares of company stock worth $27,643,224. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

V stock opened at $344.44 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $631.29 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.29 and a beta of 0.94. Visa Inc. has a 12-month low of $265.23 and a 12-month high of $375.51. The stock's 50 day simple moving average is $350.17 and its 200 day simple moving average is $347.41.

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

Visa Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets upped their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Barclays restated an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five research 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. According to data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

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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