Bristol Gate Capital Partners Inc. Has $82.67 Million Stock Holdings in Visa Inc. (NYSE:V)

Bristol Gate Capital Partners Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 314,966 shares of the credit-card processor’s stock after selling 20,121 shares during the quarter. Visa comprises approximately 4.1% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 20th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in Visa were worth $82,669,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors raised its holdings in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors lifted its stake in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after buying an additional 166,767 shares during the period. Finally, Ninety One UK Ltd increased its position in shares of Visa by 0.7% during the second quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock worth $2,065,103,000 after acquiring an additional 55,437 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $285.25 on Friday. The stock has a market cap of $519.81 billion, a PE ratio of 31.87, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a 50-day moving average of $270.27 and a 200-day moving average of $273.46. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the business posted $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Bank of America upped their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Citigroup reduced their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

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.