Bowie Capital Management LLC purchased a new stake in Visa Inc (NYSE:V) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,500 shares of the credit-card processor’s stock, valued at approximately $1,276,000. Visa makes up about 0.2% of Bowie Capital Management LLC’s holdings, making the stock its 25th biggest position.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fort L.P. bought a new position in Visa in the second quarter valued at approximately $120,000. Bridgeworth LLC bought a new stake in shares of Visa in the second quarter worth $143,000. Ruggie Capital Group bought a new stake in shares of Visa in the second quarter worth $164,000. Quadrant Private Wealth Management LLC bought a new stake in shares of Visa in the third quarter worth $200,000. Finally, O Dell Group LLC bought a new stake in shares of Visa in the third quarter worth $200,000. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Visa news, Vice Chairman Ellen Richey sold 81,005 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $139.99, for a total value of $11,339,889.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP William M. Sheedy sold 3,643 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the transaction, the executive vice president now owns 241,983 shares in the company, valued at $32,200,677.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,764 shares of company stock worth $14,160,077. Corporate insiders own 0.17% of the company’s stock.
A number of analysts have recently commented on V shares. Jefferies Financial Group started coverage on shares of Visa in a research report on Monday, January 28th. They issued a “buy” rating and a $135.99 price objective on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $178.00 price objective on shares of Visa in a research report on Friday, December 21st. BMO Capital Markets boosted their price objective on shares of Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. SunTrust Banks reissued an “outperform” rating and issued a $250.00 price objective on shares of Visa in a research report on Friday, February 1st. Finally, Barclays started coverage on shares of Visa in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $162.77.
Shares of V opened at $143.49 on Thursday. The firm has a market cap of $285.03 billion, a P/E ratio of 31.13, a PEG ratio of 1.60 and a beta of 0.97. Visa Inc has a 1-year low of $116.03 and a 1-year high of $151.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.50 and a current ratio of 1.50.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, January 30th. The credit-card processor reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.05. Visa had a net margin of 50.61% and a return on equity of 39.32%. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts predict that Visa Inc will post 5.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Friday, February 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.70%. Visa’s dividend payout ratio is currently 21.69%.
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Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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