Bowie Capital Management LLC Sells 91,512 Shares of Visa Inc. (NYSE:V)

Bowie Capital Management LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 24.3% in the third quarter, Holdings Channel reports. The fund owned 285,701 shares of the credit-card processor’s stock after selling 91,512 shares during the quarter. Visa comprises approximately 4.1% of Bowie Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Bowie Capital Management LLC’s holdings in Visa were worth $78,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. WFA Asset Management Corp raised its position in shares of Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Visa by 13.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 148,553 shares of the credit-card processor’s stock worth $41,458,000 after purchasing an additional 17,887 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Visa in the first quarter valued at $5,359,000. Industrial Alliance Investment Management Inc. lifted its position in Visa by 4.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 5,187 shares of the credit-card processor’s stock worth $1,448,000 after purchasing an additional 223 shares during the period. Finally, Incline Global Management LLC increased its holdings in Visa by 56.0% in the 1st quarter. Incline Global Management LLC now owns 36,151 shares of the credit-card processor’s stock valued at $10,089,000 after buying an additional 12,974 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 1.0 %

Visa stock traded up $3.21 during mid-day trading on Monday, hitting $313.13. 494,009 shares of the company’s stock were exchanged, compared to its average volume of 6,933,292. The company’s 50 day simple moving average is $289.52 and its 200-day simple moving average is $277.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $583.32 billion, a P/E ratio of 31.85, a PEG ratio of 2.08 and a beta of 0.95. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $313.47.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the business posted $2.33 EPS. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on V. Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Mizuho increased their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird raised their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna upped their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Finally, Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa 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.