Hengistbury Investment Partners LLP Lowers Stake in Visa Inc. (NYSE:V)

Key Points

• Hengistbury Investment Partners LLP reduced its stake in Visa Inc. by 19.8%, selling 49,200 shares during the first quarter, leaving them with approximately 199,333 shares valued at $69.86 million.
• Several hedge funds significantly increased their positions in Visa, with GAMMA Investing LLC raising its holdings by 38,416.3% during the same quarter.
• Visa recently reported earnings of $2.98 per share for the quarter, exceeding estimates, along with a revenue increase of 14.3% year-over-year.

Hengistbury Investment Partners LLP reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 199,333 shares of the credit-card processor's stock after selling 49,200 shares during the period. Visa accounts for approximately 40.3% of Hengistbury Investment Partners LLP's holdings, making the stock its biggest position. Hengistbury Investment Partners LLP's holdings in Visa were worth $69,858,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Lakeridge Wealth Management LLC increased its position in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter worth about $306,000. Aptus Capital Advisors LLC increased its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Eagle Strategies LLC increased its position in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after purchasing an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after purchasing an additional 43,546 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Oppenheimer lifted their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Macquarie boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $380.84.

Visa Price Performance

NYSE:V traded up $2.25 during mid-day trading on Wednesday, reaching $339.68. The stock had a trading volume of 5,943,311 shares, compared to its average volume of 6,305,647. The firm has a 50 day moving average price of $354.38 and a two-hundred day moving average price of $346.84. The stock has a market capitalization of $626.76 billion, a P/E ratio of 33.17, a P/E/G ratio of 2.25 and a beta of 0.94. Visa Inc. has a one year low of $256.31 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 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 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

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.