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

Foster Victor Wealth Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,490 shares of the credit-card processor’s stock after selling 1,913 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Visa were worth $9,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC grew its position in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa in the fourth quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC grew its position in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on V shares. Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Jefferies Financial Group increased their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. Five equities 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’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock valued at $50,133,659 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $352.75 on Friday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm’s 50 day moving average is $349.76 and its two-hundred day moving average is $337.61. The company has a market cap of $650.87 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

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.