GCQ FUNDS MANAGEMENT PTY Ltd lowered its stake in Visa Inc. (NYSE:V - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,935 shares of the credit-card processor's stock after selling 34,862 shares during the period. Visa accounts for approximately 10.1% of GCQ FUNDS MANAGEMENT PTY Ltd's holdings, making the stock its 5th biggest holding. GCQ FUNDS MANAGEMENT PTY Ltd's holdings in Visa were worth $40,981,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Sovereign Investment Advisors LLC purchased a new stake in Visa in the fourth quarter worth $424,000. Brighton Jones LLC lifted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Leverage Partners Absolute Return Fund SPC bought a new stake in shares of Visa during the 4th quarter valued at $204,000. Finally, SOA Wealth Advisors LLC. grew its position in shares of Visa by 7.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor's stock worth $902,000 after buying an additional 187 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,478 shares of company stock worth $33,717,733 in the last ninety days. Insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of NYSE V traded up $4.48 during trading on Friday, reaching $358.70. 3,702,810 shares of the company traded hands, compared to its average volume of 6,855,011. The firm has a 50 day simple moving average of $355.79 and a 200-day simple moving average of $341.24. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The stock has a market capitalization of $661.86 billion, a PE ratio of 36.05, a P/E/G ratio of 2.43 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's payout ratio is 23.72%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Macquarie lowered their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.84.
Read Our Latest Stock Report on V
About Visa
(
Free Report)
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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