Carnegie Capital Asset Management LLC Acquires 221 Shares of Visa Inc. (NYSE:V)

Carnegie Capital Asset Management LLC grew its holdings in Visa Inc. (NYSE:V) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 99,123 shares of the credit-card processor’s stock after purchasing an additional 221 shares during the period. Visa makes up about 0.9% of Carnegie Capital Asset Management LLC’s portfolio, making the stock its 27th biggest position. Carnegie Capital Asset Management LLC’s holdings in Visa were worth $25,807,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hibernia Wealth Partners LLC bought a new stake in Visa during the 3rd quarter worth $25,000. Altshuler Shaham Ltd bought a new stake in Visa during the 3rd quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in Visa during the 4th quarter worth $32,000. Financial Freedom LLC bought a new stake in Visa during the 4th quarter worth $32,000. Finally, Nalls Sherbakoff Group LLC grew its position in Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.7 %

Shares of NYSE:V opened at $271.28 on Tuesday. The business’s 50 day simple moving average is $280.04 and its two-hundred day simple moving average is $262.19. The firm has a market cap of $498.21 billion, a P/E ratio of 31.22, a PEG ratio of 1.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.07. The business had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. As a group, research analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is presently 23.94%.

Analysts Set New Price Targets

A number of research firms have commented on V. Monness Crespi & Hardt assumed coverage on Visa in a research report on Wednesday, December 20th. They issued a “neutral” rating on the stock. Barclays increased their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Wedbush increased their price target on Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Royal Bank of Canada increased their price target on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.87.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders have sold 55,511 shares of company stock worth $15,131,081 over the last 90 days. 0.19% of the stock is currently 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.