Jackson Square Partners LLC Sells 5,306 Shares of Visa Inc. $V

Jackson Square Partners LLC reduced its stake in Visa Inc. (NYSE:V) by 21.3% in the second quarter, HoldingsChannel.com reports. The fund owned 19,618 shares of the credit-card processor’s stock after selling 5,306 shares during the quarter. Visa accounts for 2.6% of Jackson Square Partners LLC’s portfolio, making the stock its 8th biggest position. Jackson Square Partners LLC’s holdings in Visa were worth $6,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Nuveen LLC bought a new position in shares of Visa during the first quarter worth about $3,518,533,000. Vanguard Group Inc. increased its stake in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Wellington Management Group LLP raised its holdings in shares of Visa by 17.7% during the first 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 buying an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Visa during the first quarter worth approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Visa by 7.2% in the 1st 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 buying an additional 955,392 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.3%

NYSE:V opened at $335.91 on Monday. The business’s fifty day moving average price is $343.52 and its 200 day moving average price is $348.84. The firm has a market capitalization of $615.66 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.03 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share 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 $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The stock was 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 directly owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,897 shares of company stock worth $8,164,561 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on V. Raymond James Financial restated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Barclays restated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $425.00 price target on shares of Visa in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

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.