Jackson Square Capital LLC Decreases Stake in Visa Inc. $V

Key Points

• Jackson Square Capital LLC has reduced its stake in Visa Inc. by 7.4%, now holding 9,968 shares valued at approximately $3.54 million.
• Significant investments in Visa were made by several large investors, including GAMMA Investing LLC, which increased its stake by 38,416.3% in the first quarter, owning 14.76 million shares worth over $5.17 billion.
• Visa recently announced a quarterly dividend of $0.59 per share, representing an annualized dividend of $2.36 and a yield of 0.7%.

Jackson Square Capital LLC decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,968 shares of the credit-card processor's stock after selling 802 shares during the quarter. Jackson Square Capital LLC's holdings in Visa were worth $3,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter valued at $27,000. 1 North Wealth Services LLC bought a new position in Visa in the 1st quarter valued at $38,000. Anderson Financial Strategies LLC bought a new position in Visa in the 1st quarter valued at $53,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa in the 1st quarter valued at $54,000. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Barclays reiterated an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Stock Down 2.2%

Shares of NYSE V traded down $7.75 during mid-day trading on Thursday, hitting $338.45. 7,518,650 shares of the stock traded hands, compared to its average volume of 4,913,677. The stock has a fifty day moving average price of $345.81 and a 200-day moving average price of $346.47. The company has a market cap of $620.32 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 2.30 and a beta of 0.92. Visa Inc. has a 52 week low of $268.23 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The stock was 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 owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.