Tremblant Capital Group Boosts Stock Holdings in Visa Inc. (NYSE:V)

Tremblant Capital Group grew its position in shares of Visa Inc. (NYSE:V) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,278 shares of the credit-card processor’s stock after buying an additional 176 shares during the quarter. Tremblant Capital Group’s holdings in Visa were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its position in Visa by 116,608.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the period. Norges Bank bought a new position in Visa during the fourth quarter valued at approximately $3,067,232,000. Morgan Stanley lifted its position in Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the period. Envestnet Asset Management Inc. lifted its position in Visa by 130.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock valued at $680,069,000 after purchasing an additional 3,986,135 shares during the period. Finally, Longview Partners Guernsey LTD bought a new position in Visa in the first quarter worth approximately $573,158,000. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The shares were sold at an average price of $247.47, for a total value of $2,016,880.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, insider Rajat Taneja sold 22,700 shares of Visa stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total value of $5,452,767.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,755,623.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,750 shares of company stock valued at $15,845,648. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on V shares. Raymond James increased their price target on shares of Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Barclays increased their price target on shares of Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Royal Bank of Canada increased their price target on shares of Visa from $265.00 to $290.00 in a research report on Wednesday, July 26th. Oppenheimer reiterated an “outperform” rating and issued a $248.00 price target on shares of Visa in a research report on Monday, July 24th. Finally, Credit Suisse Group increased their price target on shares of Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $273.77.

Visa Stock Performance

V opened at $247.29 on Friday. The stock has a market capitalization of $460.41 billion, a price-to-earnings ratio of 31.38, a PEG ratio of 1.86 and a beta of 0.95. The company has a fifty day moving average of $240.99 and a 200 day moving average of $231.41. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $248.87. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $1.98 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 8.65 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 annualized dividend and a yield of 0.73%. Visa’s payout ratio is 22.84%.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.