Capricorn Fund Managers Ltd Reduces Holdings in Visa Inc. $V

Key Points

• Capricorn Fund Managers Ltd reduced its holdings in Visa Inc. by 6.0% during the 2nd quarter, now owning 18,075 shares valued at approximately $6.4 million.
• Hedge funds and other institutional investors own about 82.15% of Visa's stock, with notable new purchases made by various firms in the recent quarters.
• Visa also announced a quarterly dividend of $0.59 per share, resulting in an annualized yield of 0.7% and a payout ratio of 23.05%.

Capricorn Fund Managers Ltd reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,075 shares of the credit-card processor's stock after selling 1,151 shares during the quarter. Visa makes up 3.0% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 13th largest position. Capricorn Fund Managers Ltd's holdings in Visa were worth $6,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the first quarter worth about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter worth about $28,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Visa during the first quarter worth about $38,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Trading Up 0.8%

Shares of V stock opened at $351.96 on Wednesday. The stock has a market cap of $645.06 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a fifty-two week low of $274.01 and a fifty-two week high of $375.51. The firm's 50 day moving average price is $343.65 and its two-hundred day moving average price is $346.93.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.42 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.3 EPS 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's payout ratio is 23.05%.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Morgan Stanley lifted 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. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. UBS Group reissued a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Robert W. Baird set a $410.00 target price on shares of Visa and gave the stock an "outperform" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $389.00.

Visa Company 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.

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