GCQ FUNDS MANAGEMENT PTY Ltd Has $76.15 Million Stake in Visa Inc. $V

GCQ FUNDS MANAGEMENT PTY Ltd cut its position in shares of Visa Inc. (NYSE:V) by 27.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 221,954 shares of the credit-card processor’s stock after selling 85,434 shares during the quarter. Visa accounts for 10.6% of GCQ FUNDS MANAGEMENT PTY Ltd’s portfolio, making the stock its 3rd biggest holding. GCQ FUNDS MANAGEMENT PTY Ltd’s holdings in Visa were worth $76,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cresta Advisors Ltd. acquired a new stake in shares of Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC increased its position in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Virtus Advisers LLC acquired a new position in shares of Visa in the second quarter valued at $33,000. RHL Group LLC acquired a new position in shares of Visa in the fourth quarter valued at $34,000. Finally, Timmons Wealth Management LLC bought a new position in Visa in the fourth quarter worth $34,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. This represents a 40.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 90,759 shares of company stock worth $32,375,779 in the last quarter. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 price objective on shares of Visa in a report on Tuesday, June 2nd. Barclays started coverage on shares of Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price on the stock. Erste Group Bank raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $416.00 price target on shares of Visa in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $413.58.

Visa Price Performance

Shares of V stock opened at $371.09 on Friday. The stock’s fifty day simple moving average is $353.73 and its 200 day simple moving average is $329.64. Visa Inc. has a one year low of $293.89 and a one year high of $373.97. The firm has a market cap of $662.18 billion, a price-to-earnings ratio of 31.56, a P/E/G ratio of 1.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.98 earnings per share. On average, analysts expect that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa announced that its board has approved a share buyback program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 22.79%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.