Visa Inc. (NYSE:V) Shares Sold by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 29,490 shares of the credit-card processor's stock after selling 1,913 shares during the period. Foster Victor Wealth Advisors LLC's holdings in Visa were worth $9,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Visa by 4.4% in 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 last quarter. Capital International Investors grew its stake 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 during the period. Capital World Investors grew its stake 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 during the period. Finally, Northern Trust Corp increased 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 worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Citigroup started coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Evercore ISI began coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Truist Financial began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. 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's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Stock Down 4.9%

Shares of Visa stock traded down $17.68 on Wednesday, hitting $340.16. 14,943,121 shares of the company's stock traded hands, compared to its average volume of 7,035,274. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $627.64 billion, a P/E ratio of 34.19, a PEG ratio of 2.39 and a beta of 0.94. The firm's 50-day moving average is $351.22 and its 200 day moving average is $338.19.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. The company's quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last 90 days. Insiders own 0.13% of the company's stock.

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.