Foyston Gordon & Payne Inc Buys 209 Shares of Visa Inc. (NYSE:V)

Foyston Gordon & Payne Inc increased its stake in shares of Visa Inc. (NYSE:V) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,967 shares of the credit-card processor’s stock after buying an additional 209 shares during the period. Visa comprises about 1.5% of Foyston Gordon & Payne Inc’s holdings, making the stock its 24th biggest position. Foyston Gordon & Payne Inc’s holdings in Visa were worth $5,946,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 period. Nuveen LLC bought a new position in Visa in the 1st quarter worth approximately $3,518,533,000. Northern Trust Corp grew its stake in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Visa during the 4th quarter valued at $673,689,000. Finally, Kovitz Investment Group Partners LLC raised its holdings in Visa by 295.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor’s stock valued at $746,550,000 after acquiring an additional 1,764,781 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V opened at $344.44 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $631.29 billion, a P/E ratio of 33.64, a PEG ratio of 2.29 and a beta of 0.94. The stock has a 50-day moving average price of $350.17 and a 200-day moving average price of $347.41. Visa Inc. has a 12-month low of $265.23 and a 12-month high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction dated 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 sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Morgan Stanley increased their price target on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $380.84.

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.