Bridgeway Capital Management LLC Has $33.95 Million Stock Position in Visa Inc. $V

Key Points

• Bridgeway Capital Management LLC increased its holdings in Visa Inc. by 11.0% in the first quarter, acquiring an additional 9,608 shares to total 96,884, which represent 0.9% of their portfolio.
• Insider transactions revealed that CEO Ryan McEnerney sold 8,630 shares worth over $3 million, resulting in a 94.14% decrease in his ownership.
• Visa reported a quarterly earnings per share of $2.98, surpassing expectations, with a revenue of $10.17 billion, indicating a 14.3% increase compared to the previous year.

Bridgeway Capital Management LLC raised its holdings in Visa Inc. (NYSE:V - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,884 shares of the credit-card processor's stock after acquiring an additional 9,608 shares during the period. Visa comprises 0.9% of Bridgeway Capital Management LLC's holdings, making the stock its 3rd biggest holding. Bridgeway Capital Management LLC's holdings in Visa were worth $33,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new position in Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter valued at about $27,000. 1 North Wealth Services LLC acquired a new stake in shares of Visa during the first quarter valued at about $38,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the fourth quarter valued at about $47,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the first quarter valued at about $54,000. Institutional investors own 82.15% of the company's stock.

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 that occurred 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 transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,293 shares of company stock valued at $8,114,295. 0.13% of the stock is currently owned by company insiders.

Visa Trading Down 0.2%

Shares of Visa stock traded down $0.64 during midday trading on Thursday, reaching $350.23. The company had a trading volume of 4,322,638 shares, compared to its average volume of 5,283,867. The stock has a fifty day moving average price of $348.63 and a 200 day moving average price of $347.36. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $641.89 billion, a PE ratio of 34.20, a P/E/G ratio of 2.34 and a beta of 0.92. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The company's revenue was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is 23.05%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. UBS Group reissued a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

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.