Conway Capital Management Inc. Boosts Stock Position in Visa Inc. (NYSE:V)

Conway Capital Management Inc. lifted its position in shares of Visa Inc. (NYSE:V) by 7.6% in the first quarter, HoldingsChannel.com reports. The firm owned 6,385 shares of the credit-card processor’s stock after purchasing an additional 450 shares during the period. Visa comprises 1.1% of Conway Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Conway Capital Management Inc.’s holdings in Visa were worth $2,238,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of V. Hirtle Callaghan & Co LLC boosted its position in shares of Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC lifted its position in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after acquiring an additional 29 shares in the last quarter. Valmark Advisers Inc. lifted its position in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 30 shares in the last quarter. Finally, Capstone Financial Advisors Inc. lifted its position in Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after acquiring an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock valued at $50,133,659 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Down 5.0%

Visa stock opened at $352.75 on Monday. The firm has a 50 day moving average of $349.76 and a 200 day moving average of $337.77. The firm has a market capitalization of $650.87 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released 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 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the firm posted $2.51 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Truist Financial assumed coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $372.80.

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.