Bristol Gate Capital Partners Inc. Sells 58,448 Shares of Visa Inc. $V

Bristol Gate Capital Partners Inc. lessened its stake in Visa Inc. (NYSE:V) by 18.8% in the second quarter, Holdings Channel reports. The fund owned 253,109 shares of the credit-card processor’s stock after selling 58,448 shares during the quarter. Visa makes up about 5.1% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 5th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in Visa were worth $89,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in V. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Visa by 2.8% in the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 381,025 shares of the credit-card processor’s stock valued at $135,438,000 after purchasing an additional 10,268 shares during the period. Tobias Financial Advisors Inc. lifted its holdings in Visa by 37.6% in the 2nd quarter. Tobias Financial Advisors Inc. now owns 3,629 shares of the credit-card processor’s stock worth $1,288,000 after buying an additional 991 shares in the last quarter. First National Advisers LLC boosted its position in Visa by 18.3% in the 2nd quarter. First National Advisers LLC now owns 6,550 shares of the credit-card processor’s stock valued at $2,325,000 after buying an additional 1,015 shares during the last quarter. Berry Wealth Group LP grew its stake in shares of Visa by 1.5% during the second quarter. Berry Wealth Group LP now owns 3,349 shares of the credit-card processor’s stock valued at $1,189,000 after acquiring an additional 50 shares in the last quarter. Finally, Meridian Wealth Partners LLC grew its stake in shares of Visa by 5.4% during the second quarter. Meridian Wealth Partners LLC now owns 1,488 shares of the credit-card processor’s stock valued at $528,000 after acquiring an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,042 shares of company stock worth $8,175,152 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on V shares. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Macquarie decreased their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

Shares of V opened at $334.67 on Friday. The stock has a market capitalization of $609.67 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 1.98 and a beta of 0.87. The business’s fifty day moving average price is $339.68 and its 200 day moving average price is $347.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the company earned $2.71 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is 26.25%.

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.