Foster Victor Wealth Advisors LLC Increases Stake in Visa Inc. $V

Foster Victor Wealth Advisors LLC increased its stake in Visa Inc. (NYSE:V) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,037 shares of the credit-card processor’s stock after buying an additional 1,654 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Visa were worth $11,208,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. AQR Capital Management LLC raised its position in Visa by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after purchasing an additional 21,401 shares during the period. Precedent Wealth Partners LLC boosted its position in shares of Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the period. Baltimore Washington Financial Advisors Inc. grew its stake in shares of Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after buying an additional 5,295 shares during the last quarter. Consilium Wealth Advisory LLC purchased a new stake in shares of Visa in the second quarter worth approximately $862,000. Finally, Iron Gate Global Advisors LLC raised its holdings in shares of Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after buying an additional 3,484 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. HSBC upgraded Visa from a “hold” rating to a “buy” rating and boosted their price objective for the company from $335.00 to $389.00 in a report on Sunday, December 7th. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price for the company in a research note on Thursday, December 11th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. UBS Group set a $425.00 price objective on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and an average price target of $402.52.

Visa Stock Performance

V stock opened at $352.11 on Tuesday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The business has a 50-day moving average price of $337.67 and a 200 day moving average price of $344.37. The company has a market capitalization of $641.45 billion, a P/E ratio of 34.49, a PEG ratio of 2.05 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s payout ratio is presently 26.25%.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 24,042 shares of company stock worth $8,175,152 over the last 90 days. Company insiders own 0.12% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.