Foster & Motley Inc. Purchases 4,620 Shares of Visa Inc. (NYSE:V)

Foster & Motley Inc. increased its position in shares of Visa Inc. (NYSE:V) by 81.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,301 shares of the credit-card processor’s stock after buying an additional 4,620 shares during the period. Foster & Motley Inc.’s holdings in Visa were worth $2,832,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 4.8 %

Shares of NYSE V opened at $307.36 on Thursday. The stock has a market capitalization of $560.11 billion, a P/E ratio of 31.59, a PEG ratio of 1.96 and a beta of 0.95. Visa Inc. has a one year low of $240.97 and a one year high of $309.00. The firm’s 50 day simple moving average is $282.69 and its two-hundred day simple moving average is $274.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

Wall Street Analyst Weigh In

V has been the topic of several recent research reports. Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, TD Cowen raised their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Visa 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.