Foundations Investment Advisors LLC Buys 8,574 Shares of Visa Inc. $V

Foundations Investment Advisors LLC increased its stake in shares of Visa Inc. (NYSE:VFree Report) by 11.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,436 shares of the credit-card processor’s stock after buying an additional 8,574 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Visa were worth $29,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of V. Vanguard Group Inc. raised its position in Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. Geode Capital Management LLC boosted its stake in Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after purchasing an additional 388,996 shares in the last quarter. Capital World Investors increased its stake in shares of Visa by 0.8% in the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after buying an additional 193,288 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Visa by 4.2% in the third quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock valued at $4,475,403,000 after buying an additional 530,995 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Visa by 3.3% in the third quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock valued at $4,253,224,000 after buying an additional 399,845 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 42,744 shares of company stock worth $14,356,010. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore set a $350.00 target price on Visa in a research note on Wednesday, April 29th. Oppenheimer restated an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Macquarie Infrastructure restated an “outperform” rating and issued a $410.00 target price on shares of Visa in a research note on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. Finally, Citigroup lowered their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $386.70.

Get Our Latest Report on Visa

Visa Stock Up 0.4%

NYSE:V opened at $327.71 on Thursday. The stock has a 50-day moving average price of $313.98 and a two-hundred day moving average price of $325.11. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $375.51. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The stock has a market cap of $587.83 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.74 and a beta of 0.78.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 EPS. As a group, equities analysts expect that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its board has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s dividend payout ratio is presently 23.34%.

Trending Headlines about Visa

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Visa Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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