Woodline Partners LP Has $51.13 Million Holdings in Visa Inc. $V

Key Points

• Woodline Partners LP increased its stake in Visa Inc. by 40.1% during the first quarter, bringing its total holdings to $51.13 million.
• The company reported an earnings per share of $2.98 for the last quarter, surpassing expectations and showing a 14.3% year-over-year revenue growth.
• Visa announced a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield with a payout ratio of 23.05%.

Woodline Partners LP boosted its stake in Visa Inc. (NYSE:V - Free Report) by 40.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,890 shares of the credit-card processor's stock after purchasing an additional 41,793 shares during the quarter. Woodline Partners LP's holdings in Visa were worth $51,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. raised its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC grew its position 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 valued at $1,209,000 after purchasing an additional 29 shares during the period. Headinvest LLC increased its stake in Visa by 0.8% during 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. Kennebec Savings Bank raised its holdings in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after buying an additional 30 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Visa by 0.8% during the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after buying an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm'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 sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,293 shares of company stock valued at $8,114,295 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on V shares. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, Barclays restated an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $385.96.

Visa Price Performance

Visa stock opened at $342.45 on Tuesday. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The company's 50 day moving average price is $348.26 and its two-hundred day moving average price is $347.15. The stock has a market cap of $627.64 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.28 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. On average, equities analysts predict 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 was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

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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