Carmel Capital Partners LLC Acquires 364 Shares of Visa Inc. $V

Carmel Capital Partners LLC grew its holdings in Visa Inc. (NYSE:V) by 38.0% during the 2nd quarter, Holdings Channel reports. The fund owned 1,322 shares of the credit-card processor’s stock after buying an additional 364 shares during the period. Carmel Capital Partners LLC’s holdings in Visa were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in V. Brighton Jones LLC increased its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Visa by 9.9% in the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after purchasing an additional 3,795 shares in the last quarter. Cross Staff Investments Inc increased its stake in shares of Visa by 4.5% in the first quarter. Cross Staff Investments Inc now owns 6,386 shares of the credit-card processor’s stock worth $2,238,000 after purchasing an additional 273 shares in the last quarter. Finally, Childress Capital Advisors LLC increased its stake in shares of Visa by 5.1% in the first quarter. Childress Capital Advisors LLC now owns 6,051 shares of the credit-card processor’s stock worth $2,121,000 after purchasing an additional 291 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Finally, Macquarie raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Stock Performance

Shares of NYSE:V opened at $344.44 on Tuesday. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The stock has a market capitalization of $631.28 billion, a P/E ratio of 33.64, a PEG ratio of 2.03 and a beta of 0.90. The firm has a fifty day simple moving average of $344.47 and a two-hundred day simple moving average of $347.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its quarterly earnings data 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company 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.