Visa Inc. (NYSE:V) Shares Bought by Tremblant Capital Group

Tremblant Capital Group grew its holdings in shares of Visa Inc. (NYSE:V) by 14.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,116 shares of the credit-card processor’s stock after purchasing an additional 1,044 shares during the period. Tremblant Capital Group’s holdings in Visa were worth $2,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Norges Bank acquired a new stake in shares of Visa in the 4th quarter worth approximately $5,171,271,000. Vanguard Group Inc. grew its holdings in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Visa in the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC grew its holdings in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target on the stock. Raymond James restated an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Bank of America raised their price target on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group raised their price target on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $362.38.

Visa Price Performance

V stock opened at $365.23 on Monday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The stock’s fifty day simple moving average is $338.59 and its 200-day simple moving average is $329.89. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $673.90 billion, a price-to-earnings ratio of 36.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the firm earned $2.51 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is currently 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.