Firetrail Investments PTY Ltd. Has $22.06 Million Stake in Visa Inc. (NYSE:V)

Key Points

• Firetrail Investments PTY Ltd. increased its stake in Visa Inc. by 3.5%, now holding 62,257 shares valued at approximately $22 million, making Visa its second-largest investment.
• Multiple institutional investors, including Geode Capital Management and Northern Trust Corp, have also increased their positions in Visa during the last quarter, indicating strong institutional interest in the stock.
• Visa recently reported a quarterly earnings per share of $2.76, surpassing analysts' estimates and reflecting a 9.3% year-over-year revenue growth.

Firetrail Investments PTY Ltd. grew its stake in Visa Inc. (NYSE:V - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 62,257 shares of the credit-card processor's stock after buying an additional 2,092 shares during the quarter. Visa accounts for approximately 6.4% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 2nd biggest position. Firetrail Investments PTY Ltd.'s holdings in Visa were worth $22,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Geode Capital Management LLC boosted its holdings in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors boosted its holdings in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors boosted its holdings in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the period. Northern Trust Corp increased its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. Finally, Norges Bank purchased a new stake in shares of Visa during the fourth quarter worth approximately $5,171,271,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.8%

Shares of Visa stock traded up $2.96 on Friday, hitting $356.93. 3,915,274 shares of the company's stock traded hands, compared to its average volume of 5,404,370. The company has a fifty day moving average of $356.30 and a two-hundred day moving average of $345.22. The company has a market capitalization of $658.60 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a one year low of $254.51 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $2.51 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on V shares. Citigroup started coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group lifted their price objective on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $375.52.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 in the last 90 days. 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.