Foxhaven Asset Management LP Sells 59,471 Shares of Visa Inc. (NYSE:V)

Foxhaven Asset Management LP trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 402,099 shares of the credit-card processor's stock after selling 59,471 shares during the quarter. Visa comprises 3.4% of Foxhaven Asset Management LP's portfolio, making the stock its 14th largest position. Foxhaven Asset Management LP's holdings in Visa were worth $127,079,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in V. Decker Retirement Planning Inc. acquired a new stake in Visa in the 4th quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC increased its position in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after acquiring an additional 32 shares during the period. Compass Planning Associates Inc acquired a new stake in Visa in the 4th quarter valued at approximately $32,000. Finally, NewSquare Capital LLC acquired a new stake in Visa in the 4th quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on V shares. Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Citigroup reaffirmed a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reaffirmed a "hold" rating on shares of Visa in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $362.38.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $194,931. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 over the last quarter. Company insiders own 0.13% of the company's stock.

Visa Stock Up 0.1%

Shares of Visa stock traded up $0.28 during midday trading on Tuesday, hitting $356.13. The company's stock had a trading volume of 5,403,773 shares, compared to its average volume of 7,165,349. The firm has a market capitalization of $661.61 billion, a P/E ratio of 35.90, a PEG ratio of 2.33 and a beta of 0.96. The stock has a 50-day simple moving average of $337.05 and a 200-day simple moving average of $327.84. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.51 earnings per share. As a group, sell-side 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 Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.