Mitchell Capital Management Co. Has $4.49 Million Stake in Visa Inc (NYSE:V)

Mitchell Capital Management Co. trimmed its holdings in shares of Visa Inc (NYSE:V) by 31.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,236 shares of the credit-card processor’s stock after selling 10,477 shares during the period. Visa accounts for approximately 1.4% of Mitchell Capital Management Co.’s holdings, making the stock its 14th largest holding. Mitchell Capital Management Co.’s holdings in Visa were worth $4,489,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in V. Chartwell Investment Partners LLC increased its stake in shares of Visa by 3.6% in the 2nd quarter. Chartwell Investment Partners LLC now owns 67,953 shares of the credit-card processor’s stock valued at $13,127,000 after buying an additional 2,383 shares during the period. State of Michigan Retirement System increased its stake in shares of Visa by 5.6% in the 2nd quarter. State of Michigan Retirement System now owns 905,349 shares of the credit-card processor’s stock valued at $174,886,000 after buying an additional 48,105 shares during the period. Everett Harris & Co. CA increased its stake in shares of Visa by 54.3% in the 2nd quarter. Everett Harris & Co. CA now owns 87,961 shares of the credit-card processor’s stock valued at $16,991,000 after buying an additional 30,943 shares during the period. Silversage Advisors acquired a new stake in shares of Visa in the 2nd quarter valued at $234,000. Finally, Perigon Wealth Management LLC increased its stake in shares of Visa by 1.1% in the 2nd quarter. Perigon Wealth Management LLC now owns 60,891 shares of the credit-card processor’s stock valued at $11,762,000 after buying an additional 642 shares during the period. 81.41% of the stock is owned by hedge funds and other institutional investors.

V stock traded down $3.66 during midday trading on Friday, hitting $190.40. 14,186,004 shares of the company’s stock were exchanged, compared to its average volume of 7,102,219. The company has a market cap of $377.15 billion, a PE ratio of 36.07, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. The stock’s fifty day moving average price is $194.04 and its 200-day moving average price is $187.14. Visa Inc has a one year low of $133.93 and a one year high of $214.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.55.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 earnings per share. On average, analysts expect that Visa Inc will post 4.98 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio (DPR) is 22.06%.

V has been the subject of several research reports. Nomura Securities lowered their target price on Visa from $233.00 to $214.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Goldman Sachs Group began coverage on Visa in a research note on Tuesday, July 14th. They issued a “buy” rating and a $223.00 target price for the company. Morgan Stanley raised their price target on Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research upgraded Visa from a “sell” rating to a “hold” rating and set a $181.00 price target on the stock in a research report on Sunday, May 3rd. Finally, SunTrust Banks raised their price target on Visa from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Visa has a consensus rating of “Buy” and an average price target of $207.56.

In related news, insider Rajat Taneja sold 3,279 shares of Visa stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $202.02, for a total value of $662,423.58. Following the sale, the insider now owns 221,282 shares of the company’s stock, valued at $44,703,389.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $194.50, for a total value of $1,361,500.00. Following the completion of the sale, the chief executive officer now directly owns 136,090 shares in the company, valued at approximately $26,469,505. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,429 shares of company stock worth $9,746,754. Corporate insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Further Reading: FinTech

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Institutional Ownership by Quarter for Visa (NYSE:V)

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