Foresight Global Investors Inc. Decreases Position in Visa Inc. (NYSE:V)

Foresight Global Investors Inc. reduced its stake in Visa Inc. (NYSE:V) by 18.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,920 shares of the credit-card processor’s stock after selling 1,111 shares during the period. Visa makes up 0.7% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 21st largest position. Foresight Global Investors Inc.’s holdings in Visa were worth $1,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. International Assets Investment Management LLC boosted its stake in Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the period. FMR LLC boosted its stake in shares of Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after buying an additional 2,257,605 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Visa in the 3rd quarter valued at about $358,349,000. The Manufacturers Life Insurance Company raised its stake in Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after acquiring an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Visa by 28.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after acquiring an additional 871,439 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Citigroup upped their price target on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their target price on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Oppenheimer increased their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $303.00.

Visa Price Performance

V stock traded up $1.52 on Thursday, reaching $278.71. The company had a trading volume of 8,948,291 shares, compared to its average volume of 5,955,996. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The company’s fifty day moving average is $277.64 and its 200 day moving average is $266.44. The company has a market cap of $509.74 billion, a P/E ratio of 31.12, a PEG ratio of 1.84 and a beta of 0.95. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.