Fernbridge Capital Management LP Purchases Shares of 106,619 Visa Inc. (NYSE:V)

Fernbridge Capital Management LP acquired a new stake in shares of Visa Inc. (NYSE:V) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 106,619 shares of the credit-card processor’s stock, valued at approximately $27,984,000. Visa comprises about 1.9% of Fernbridge Capital Management LP’s holdings, making the stock its 19th biggest holding.

Several other large investors have also recently modified their holdings of the stock. National Bank of Canada FI raised its holdings in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB purchased a new position in shares of Visa in the first quarter valued at about $511,321,000. GQG Partners LLC raised its stake in shares of Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Visa by 26,951.9% during the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of V opened at $284.77 on Friday. The firm has a market cap of $520.83 billion, a PE ratio of 31.82, a P/E/G ratio of 2.05 and a beta of 0.96. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $270.65 and a two-hundred day simple moving average of $273.45.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analyst Ratings Changes

Several equities research analysts have weighed in on V shares. Jefferies Financial Group dropped their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. TD Cowen decreased their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

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.