Fernbridge Capital Management LP Has $16.61 Million Holdings in Visa Inc. (NYSE:V)

Fernbridge Capital Management LP decreased its position in shares of Visa Inc. (NYSE:V) by 43.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,391 shares of the credit-card processor’s stock after selling 46,228 shares during the period. Visa comprises 1.0% of Fernbridge Capital Management LP’s portfolio, making the stock its 23rd biggest position. Fernbridge Capital Management LP’s holdings in Visa were worth $16,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Arjuna Capital lifted its holdings in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC bought a new stake in Visa during the 3rd quarter worth about $731,000. Mechanics Bank Trust Department raised its holdings in Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after purchasing an additional 2,410 shares during the last quarter. Chicago Capital LLC lifted its position in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. Finally, Baader Bank Aktiengesellschaft boosted its stake in shares of Visa by 9.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock valued at $15,299,000 after purchasing an additional 4,988 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V stock opened at $311.82 on Wednesday. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $314.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $290.37 and a 200 day simple moving average of $277.80. The company has a market cap of $580.88 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.10 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $2.33 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, TD Cowen lifted their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Visa Company 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.