Bowman & Co S.C. Boosts Holdings in Visa Inc. (NYSE:V)

Bowman & Co S.C. grew its holdings in Visa Inc. (NYSE:V) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,696 shares of the credit-card processor’s stock after purchasing an additional 80 shares during the quarter. Bowman & Co S.C.’s holdings in Visa were worth $1,312,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of V. Valley National Advisers Inc. lifted its stake in shares of Visa by 11.6% in the 3rd quarter. Valley National Advisers Inc. now owns 816 shares of the credit-card processor’s stock valued at $188,000 after purchasing an additional 85 shares in the last quarter. Trexquant Investment LP purchased a new stake in Visa during the 3rd quarter worth $5,185,000. Private Advisory Group LLC boosted its position in Visa by 7.9% during the 3rd quarter. Private Advisory Group LLC now owns 5,317 shares of the credit-card processor’s stock worth $1,223,000 after purchasing an additional 390 shares during the period. Bamco Inc. NY lifted its stake in shares of Visa by 2.4% during the third quarter. Bamco Inc. NY now owns 163,795 shares of the credit-card processor’s stock worth $37,674,000 after purchasing an additional 3,797 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Visa by 82.3% in the third quarter. Tower Research Capital LLC TRC now owns 91,270 shares of the credit-card processor’s stock worth $20,993,000 after buying an additional 41,204 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on V. Robert W. Baird upped their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Macquarie upped their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Piper Sandler started coverage on Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Wells Fargo & Company upped their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI cut their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Trading Down 2.6 %

Shares of NYSE V opened at $266.62 on Friday. The firm has a market capitalization of $487.63 billion, a PE ratio of 29.79, a PEG ratio of 1.87 and a beta of 0.97. Visa Inc. has a one year low of $226.02 and a one year high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $274.13 and a two-hundred day moving average price of $273.41.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 EPS. As a group, analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by corporate insiders.

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.