Conway Capital Management Inc. Has $1.91 Million Stock Holdings in Visa Inc. $V

Key Points

• Conway Capital Management Inc. reduced its stake in Visa Inc. by 15.7%, resulting in holdings worth approximately $1.91 million and making Visa its 20th largest investment.
• Visa's quarterly earnings surpassed expectations, reporting $2.98 EPS on revenues of $10.17 billion, reflecting a 14.3% year-over-year increase.
• The company recently announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.7% and a payout ratio of 23.05%.

Conway Capital Management Inc. cut its stake in Visa Inc. (NYSE:V - Free Report) by 15.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,385 shares of the credit-card processor's stock after selling 1,000 shares during the quarter. Visa makes up 0.9% of Conway Capital Management Inc.'s portfolio, making the stock its 20th biggest holding. Conway Capital Management Inc.'s holdings in Visa were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC boosted its holdings in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock worth $564,000 after purchasing an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC bought a new stake in Visa in the second quarter worth $862,000. Iron Gate Global Advisors LLC boosted its holdings in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after purchasing an additional 3,484 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an "outperform" rating in a report on Monday, October 6th. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a report on Wednesday, October 8th. Finally, Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $389.74.

Visa Stock Up 0.8%

V stock opened at $347.17 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51. The company has a 50-day moving average of $344.68 and a two-hundred day moving average of $347.11. The stock has a market capitalization of $636.29 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated 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. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.

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