Bridges Investment Management Inc. Reduces Stake in Visa Inc. (NYSE:V)

Bridges Investment Management Inc. cut its holdings in Visa Inc. (NYSE:V - Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 427,770 shares of the credit-card processor's stock after selling 3,248 shares during the period. Visa makes up approximately 2.2% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 11th largest position. Bridges Investment Management Inc.'s holdings in Visa were worth $149,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of V. von Borstel & Associates Inc. acquired a new stake in Visa in the first quarter valued at about $27,000. Sellwood Investment Partners LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $41,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Visa during the fourth quarter valued at about $47,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the fourth quarter valued at about $47,000. Finally, Navigoe LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $53,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. Insiders own 0.13% of the company's stock.

Visa Stock Down 2.3%

Shares of NYSE V traded down $8.17 during midday trading on Friday, hitting $347.71. 7,577,927 shares of the stock traded hands, compared to its average volume of 6,821,741. The company has a market cap of $641.58 billion, a PE ratio of 34.95, a P/E/G ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The business has a 50 day moving average price of $356.93 and a two-hundred day moving average price of $342.37.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.51 earnings per share. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Macquarie cut their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Barclays reaffirmed an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and an average target price of $372.84.

About Visa

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.