Visa Inc. (NYSE:V) Shares Sold by Bowie Capital Management LLC

Bowie Capital Management LLC lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 24.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 285,701 shares of the credit-card processor's stock after selling 91,512 shares during the period. Visa makes up approximately 4.1% of Bowie Capital Management LLC's portfolio, making the stock its 14th biggest holding. Bowie Capital Management LLC's holdings in Visa were worth $78,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. International Assets Investment Management LLC lifted its stake in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor's stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor's stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. Swedbank AB bought a new position in shares of Visa in the first quarter worth $511,321,000. Wulff Hansen & CO. increased its holdings in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor's stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Visa in the third quarter worth $268,640,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.9 %

Shares of NYSE V traded up $2.88 during trading hours on Monday, hitting $312.80. 14,188,493 shares of the stock were exchanged, compared to its average volume of 6,993,353. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $582.71 billion, a PE ratio of 32.15, a PEG ratio of 2.08 and a beta of 0.95. The firm has a fifty day moving average price of $289.96 and a 200-day moving average price of $277.58. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $313.66.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa's revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.33 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is an increase from Visa's previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa's dividend payout ratio is 24.25%.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Piper Sandler upped their price target on shares of Visa from $319.00 to $322.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a "neutral" rating to an "outperform" rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Citigroup increased their price target on shares of Visa from $319.00 to $326.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Mizuho raised their target price on shares of Visa from $279.00 to $292.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Morgan Stanley raised their price target on shares of Visa from $322.00 to $326.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus price target of $321.74.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Visa 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.