Foster Group Inc. Increases Stock Position in Visa Inc. (NYSE:V)

Foster Group Inc. raised its stake in shares of Visa Inc. (NYSE:V) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,894 shares of the credit-card processor’s stock after purchasing an additional 137 shares during the quarter. Foster Group Inc.’s holdings in Visa were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. increased its position in shares of Visa by 1,215.7% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock valued at $43,943,000 after purchasing an additional 155,957 shares during the last quarter. Brio Consultants LLC boosted its stake in Visa by 39.1% in the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after buying an additional 437 shares in the last quarter. Gilbert & Cook Inc. grew its position in Visa by 2.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after acquiring an additional 158 shares during the last quarter. Cannell & Co. raised its stake in shares of Visa by 2.0% during the fourth quarter. Cannell & Co. now owns 20,935 shares of the credit-card processor’s stock worth $5,450,000 after acquiring an additional 407 shares in the last quarter. Finally, Tower View Wealth Management LLC raised its stake in shares of Visa by 0.3% during the fourth quarter. Tower View Wealth Management LLC now owns 18,284 shares of the credit-card processor’s stock worth $4,760,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on V shares. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Evercore ISI cut their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Macquarie reiterated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Piper Sandler lowered their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Bank of America restated a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Price Performance

Shares of NYSE V opened at $276.37 on Friday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The stock has a market capitalization of $503.63 billion, a P/E ratio of 30.88, a P/E/G ratio of 1.95 and a beta of 0.95. The company’s 50-day moving average is $265.70 and its 200 day moving average is $273.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the business earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.