Crew Capital Management Ltd. Buys 2,101 Shares of Visa Inc. $V

Key Points

• Crew Capital Management Ltd. increased its stake in Visa Inc. by 51.6%, acquiring 2,101 shares, bringing its total holdings to $2.19 million, which represents 1.6% of its total portfolio.
• CEO Ryan Mcinerney and General Counsel Julie B. Rottenberg recently sold significant portions of their Visa shares, reducing their positions by 94.14% and 14.53% respectively.
• Visa reported a quarterly earnings per share of $2.98, beating estimates, with a revenue of $10.17 billion, showing a year-over-year increase of 14.3%.

Crew Capital Management Ltd. raised its stake in Visa Inc. (NYSE:V - Free Report) by 51.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,174 shares of the credit-card processor's stock after acquiring an additional 2,101 shares during the quarter. Visa comprises 1.6% of Crew Capital Management Ltd.'s holdings, making the stock its 16th largest position. Crew Capital Management Ltd.'s holdings in Visa were worth $2,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of V. Lakeridge Wealth Management LLC lifted its holdings in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Visa by 14.5% during 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 buying an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC boosted its position in shares of 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 valued at $22,040,000 after acquiring an additional 3,484 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 valued at $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. increased its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $338.66 on Wednesday. The company has a market capitalization of $620.70 billion, a PE ratio of 33.07, a P/E/G ratio of 2.29 and a beta of 0.92. 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 twelve month low of $268.23 and a twelve month high of $375.51. The firm has a fifty day simple moving average of $345.41 and a 200 day simple moving average of $346.32.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $2.42 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. UBS Group reissued a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target for the company. Finally, Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.