Night Owl Capital Management LLC Buys 3,475 Shares of Visa Inc. $V

Key Points

• Night Owl Capital Management LLC increased its stake in Visa Inc. by 4.0% during the first quarter, owning a total of 90,240 shares worth approximately $31.6 million.
• Visa reported strong financial performance with $2.98 earnings per share, exceeding analyst expectations, and revenue of $10.17 billion for the last quarter.
• The firm's recent quarterly dividend of $0.59 per share represents an annualized yield of 0.7%, with a payout ratio of 23.05%.

Night Owl Capital Management LLC boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,240 shares of the credit-card processor's stock after purchasing an additional 3,475 shares during the period. Visa comprises 4.0% of Night Owl Capital Management LLC's holdings, making the stock its 11th largest position. Night Owl Capital Management LLC's holdings in Visa were worth $31,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after buying an additional 726,299 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after buying an additional 1,723,785 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after buying an additional 434,217 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on V. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and an average price target of $385.96.

Visa Trading Down 2.3%

Shares of NYSE:V traded down $7.98 during mid-day trading on Friday, reaching $343.02. 5,447,231 shares of the company's stock were exchanged, compared to its average volume of 5,060,212. The firm has a market capitalization of $628.67 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.28 and a beta of 0.92. The business's fifty day moving average price is $348.51 and its 200-day moving average price is $347.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 earnings per share. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is presently 23.05%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,293 shares of company stock worth $8,114,295 over the last quarter. Company insiders own 0.13% 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.