Forum Financial Management LP Has $4.08 Million Position in Visa Inc. $V

Key Points

• Forum Financial Management LP increased its stake in Visa Inc. by 22.3% during the second quarter, bringing its total investment to $4.08 million.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding analysts' expectations, and revenue grew by 14.3% compared to the previous year.
• Several major investment firms adjusted their positions in Visa, with institutional investors owning 82.15% of the company's stock.

Forum Financial Management LP increased its holdings in Visa Inc. (NYSE:V - Free Report) by 22.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,487 shares of the credit-card processor's stock after purchasing an additional 2,096 shares during the period. Forum Financial Management LP's holdings in Visa were worth $4,078,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC raised its position in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock worth $564,000 after purchasing an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC acquired a new position in Visa in the second quarter worth about $862,000. Iron Gate Global Advisors LLC raised its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after purchasing an additional 3,484 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Price Performance

V opened at $347.34 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company's 50 day simple moving average is $344.79 and its 200-day simple moving average is $347.60. Visa Inc. has a one year low of $280.78 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup raised shares of Visa to a "strong-buy" rating in a research report on Thursday. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an "outperform" rating in a research note on Monday, October 6th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $392.75.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

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.

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