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

Bamco Inc. NY cut its stake in Visa Inc. (NYSE:V) by 15.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 165,906 shares of the credit-card processor’s stock after selling 29,928 shares during the quarter. Bamco Inc. NY’s holdings in Visa were worth $45,616,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Unionview LLC boosted its position in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares in the last quarter. FWG Holdings LLC lifted its position in shares of Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares in the last quarter. St. Louis Trust Co grew its stake in Visa by 0.9% in the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares during the period. KMG Fiduciary Partners LLC increased its holdings in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares in the last quarter. Finally, Iron Horse Wealth Management LLC raised its position in Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Piper Sandler boosted their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

Shares of V stock opened at $316.68 on Tuesday. Visa Inc. has a one year low of $252.14 and a one year high of $317.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50 day moving average price is $292.09 and its 200-day moving average price is $278.55. The firm has a market cap of $589.94 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.12 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business posted $2.33 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

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.