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

Fernbridge Capital Management LP reduced its stake in Visa Inc. (NYSE:V - Free Report) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,391 shares of the credit-card processor's stock after selling 46,228 shares during the period. Visa accounts for approximately 1.0% of Fernbridge Capital Management LP's investment portfolio, making the stock its 23rd biggest position. Fernbridge Capital Management LP's holdings in Visa were worth $16,605,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor's stock worth $2,683,101,000 after buying an additional 9,736,958 shares during the period. SG Americas Securities LLC grew its stake in shares of Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor's stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares in the last quarter. FMR LLC increased its position in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor's stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Swedbank AB acquired a new stake in Visa in the 1st quarter worth about $511,321,000. Finally, Wulff Hansen & CO. boosted its holdings in Visa by 26,951.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor's stock valued at $416,788,000 after purchasing an additional 1,582,074 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 1.1 %

NYSE:V traded up $3.51 during trading hours on Wednesday, hitting $315.33. 3,140,834 shares of the company were exchanged, compared to its average volume of 6,975,741. The stock has a market capitalization of $587.42 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95. Visa Inc. has a one year low of $251.61 and a one year high of $316.37. The company has a fifty day simple moving average of $290.37 and a 200 day simple moving average of $277.80. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the firm earned $2.33 earnings per share. The firm's quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a positive change from Visa's previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa's dividend payout ratio is currently 24.25%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Bank of America upped their target price on Visa from $279.00 to $308.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Monness Crespi & Hardt reissued a "neutral" rating on shares of Visa in a report on Tuesday, September 24th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $321.74.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, 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 currently owned by corporate insiders.

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.