Visa Inc. (NYSE:V) Stake Boosted by Conway Capital Management Inc.

Conway Capital Management Inc. grew its stake in shares of Visa Inc. (NYSE:V) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,385 shares of the credit-card processor’s stock after purchasing an additional 450 shares during the quarter. Visa makes up 1.1% of Conway Capital Management Inc.’s portfolio, making the stock its 19th largest holding. Conway Capital Management Inc.’s holdings in Visa were worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Hirtle Callaghan & Co LLC lifted its position in Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after acquiring 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 owned by institutional investors.

Visa Trading Down 5.0%

Visa stock opened at $352.75 on Monday. The stock has a market cap of $650.87 billion, a P/E ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm’s fifty day moving average price is $349.76 and its 200-day moving average price is $337.77. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.51 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,448 shares of company stock worth $50,133,659. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. UBS Group lifted their target price on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target 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.