Visa Inc. $V Position Lessened by Jackson Square Partners LLC

Jackson Square Partners LLC lowered its position in shares of Visa Inc. (NYSE:V) by 21.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,618 shares of the credit-card processor’s stock after selling 5,306 shares during the quarter. Visa makes up approximately 2.6% of Jackson Square Partners LLC’s holdings, making the stock its 8th biggest holding. Jackson Square Partners LLC’s holdings in Visa were worth $6,965,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of V. Nuveen LLC purchased a new position in Visa during the first quarter worth about $3,518,533,000. Vanguard Group Inc. grew its holdings in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the period. Wellington Management Group LLP increased its stake in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Visa during the 1st quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.3%

V opened at $335.91 on Monday. The firm has a market capitalization of $615.66 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87. The firm’s 50 day moving average is $343.52 and its 200-day moving average is $348.84. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is currently 23.11%.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. Finally, Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

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.