Visa Inc. (NYSE:V) Shares Bought by Bamco Inc. NY

Bamco Inc. NY raised its stake in Visa Inc. (NYSE:V) by 12.3% in the first quarter, HoldingsChannel.com reports. The fund owned 190,107 shares of the credit-card processor’s stock after buying an additional 20,786 shares during the quarter. Bamco Inc. NY’s holdings in Visa were worth $53,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFG Advisory LLC increased its stake in shares of Visa by 3.4% in the fourth quarter. IFG Advisory LLC now owns 4,404 shares of the credit-card processor’s stock worth $1,147,000 after acquiring an additional 145 shares during the last quarter. Great Lakes Retirement Inc. raised its position in shares of Visa by 5.6% during the fourth quarter. Great Lakes Retirement Inc. now owns 41,385 shares of the credit-card processor’s stock valued at $10,775,000 after buying an additional 2,186 shares during the last quarter. Morton Capital Management LLC CA raised its position in Visa by 4.4% in the fourth quarter. Morton Capital Management LLC CA now owns 3,039 shares of the credit-card processor’s stock worth $791,000 after purchasing an additional 128 shares in the last quarter. FLC Capital Advisors raised its position in Visa by 20.3% in the fourth quarter. FLC Capital Advisors now owns 2,811 shares of the credit-card processor’s stock worth $732,000 after purchasing an additional 474 shares in the last quarter. Finally, Trueblood Wealth Management LLC acquired a new position in Visa in the fourth quarter worth about $584,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on V shares. Bank of America reaffirmed a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Oppenheimer lifted their price target on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Wednesday. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Mizuho lifted their price target on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V traded up $5.72 during trading on Friday, reaching $259.46. The company’s stock had a trading volume of 7,062,213 shares, compared to its average volume of 7,558,497. The company has a current ratio of 1.37, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $474.54 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The firm has a 50 day moving average price of $270.03 and a 200 day moving average price of $274.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 EPS. As a group, equities analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is presently 23.24%.

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.