Foster Group Inc. Acquires Shares of 1,009 Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 3rd, 2023

Foster Group Inc. bought a new position in shares of Visa Inc. (NYSE:V – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,009 shares of the credit-card processor’s stock, valued at approximately $210,000.

A number of other hedge funds also recently modified their holdings of V. Domani Wealth LLC boosted its stake in Visa by 2.7% in the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after buying an additional 46 shares in the last quarter. Copperleaf Capital LLC boosted its stake in shares of Visa by 0.6% in the 2nd quarter. Copperleaf Capital LLC now owns 7,968 shares of the credit-card processor’s stock valued at $1,569,000 after purchasing an additional 49 shares in the last quarter. CNB Bank grew its holdings in shares of Visa by 0.8% during the 2nd quarter. CNB Bank now owns 6,338 shares of the credit-card processor’s stock valued at $1,248,000 after purchasing an additional 49 shares during the last quarter. S.C. Financial Services Inc. increased its position in Visa by 2.3% during the 4th quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock worth $445,000 after purchasing an additional 49 shares in the last quarter. Finally, Eads & Heald Wealth Management lifted its stake in Visa by 0.4% in the 3rd quarter. Eads & Heald Wealth Management now owns 12,641 shares of the credit-card processor’s stock valued at $2,246,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 81.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on V. JPMorgan Chase & Co. boosted their target price on shares of Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. Morgan Stanley lifted their price target on Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Barclays boosted their price target on Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Sunday, January 29th. Wolfe Research raised their price objective on shares of Visa from $240.00 to $255.00 in a report on Thursday, January 5th. Finally, Raymond James boosted their target price on shares of Visa from $261.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.11.

Visa Stock Performance

Shares of V stock opened at $225.46 on Monday. The firm has a 50 day moving average of $223.58 and a 200-day moving average of $209.88. The company has a market cap of $424.09 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $234.30.

Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. Visa had a net margin of 50.28% and a return on equity of 49.95%. The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same period last year, the company posted $1.81 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 8.43 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s payout ratio is presently 25.17%.

Insider Buying and Selling

In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the sale, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Visa news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of Visa stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the transaction, the chairman now owns 162,354 shares of the company’s stock, valued at $36,365,672.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,312 shares of company stock valued at $33,751,165. 0.22% of the stock is owned by company insiders.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).