Visa Inc. (NYSE:V) is Triple Frond Partners LLC’s 4th Largest Position

Triple Frond Partners LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 11.1% during the fourth quarter, Holdings Channel reports. The firm owned 358,393 shares of the credit-card processor’s stock after selling 44,576 shares during the quarter. Visa comprises approximately 14.7% of Triple Frond Partners LLC’s holdings, making the stock its 4th biggest position. Triple Frond Partners LLC’s holdings in Visa were worth $113,266,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Prospect Financial Group LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $259,000. Modern Wealth Management LLC increased its position in Visa by 64.1% during the fourth quarter. Modern Wealth Management LLC now owns 8,358 shares of the credit-card processor’s stock worth $2,641,000 after buying an additional 3,264 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Visa in the fourth quarter worth $654,000. Grantvest Financial Group LLC purchased a new stake in shares of Visa in the fourth quarter valued at $335,000. Finally, Haverford Trust Co boosted its stake in shares of Visa by 2.1% during the fourth quarter. Haverford Trust Co now owns 86,597 shares of the credit-card processor’s stock valued at $27,368,000 after acquiring an additional 1,793 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,205 shares of company stock valued at $48,560,961. Insiders own 0.13% of the company’s stock.

Visa Stock Up 2.5 %

Shares of NYSE:V opened at $343.96 on Tuesday. The company has a 50 day moving average of $341.23 and a two-hundred day moving average of $313.75. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $639.00 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James restated an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company raised their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

About Visa

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.