Jackson Square Partners LLC Has $8.74 Million Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Jackson Square Partners LLC reduced its stake in Visa Inc. (NYSE:V) by 4.1%, holding $8.74 million worth of shares after selling 1,078 shares in the first quarter.
• Visa reported earnings of $2.98 per share, exceeding estimates, with a revenue of $10.17 billion, representing a 14.3% year-over-year increase.
• The company announced a quarterly dividend of $0.59 per share, expected to be paid on September 2, which gives an annualized dividend yield of 0.7%.

Jackson Square Partners LLC reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,924 shares of the credit-card processor's stock after selling 1,078 shares during the period. Jackson Square Partners LLC's holdings in Visa were worth $8,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. FWL Investment Management LLC grew its holdings in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the period. Yeomans Consulting Group Inc. lifted its holdings in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the period. Semus Wealth Partners LLC lifted its stake in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. grew its stake in shares of Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares in the last quarter. Finally, Headinvest LLC raised its position in Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.7%

Shares of NYSE V opened at $339.68 on Thursday. Visa Inc. has a 12-month low of $256.31 and a 12-month high of $375.51. The company has a market cap of $626.76 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50 day simple moving average is $353.98 and its 200 day simple moving average is $346.79.

Visa (NYSE:V - Get Free Report) last released 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. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. UBS Group reissued a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating for the company. 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 target on the stock. Finally, Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $380.84.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,100 shares of company stock valued at $27,643,224. Insiders own 0.13% of the company's stock.

About Visa

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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