Visa Inc. $V Shares Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 25.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 66,536 shares of the credit-card processor’s stock after buying an additional 13,565 shares during the period. Cary Street Partners Financial LLC’s holdings in Visa were worth $23,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. Capital World Investors raised its stake in shares of Visa by 0.8% in the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after acquiring an additional 193,288 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Visa by 4.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock valued at $4,475,403,000 after acquiring an additional 530,995 shares during the period. Legal & General Group Plc increased its stake in Visa by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock worth $4,253,224,000 after buying an additional 399,845 shares during the period. Finally, Invesco Ltd. increased its stake in Visa by 12.2% during the 3rd quarter. Invesco Ltd. now owns 11,913,505 shares of the credit-card processor’s stock worth $4,067,032,000 after buying an additional 1,298,435 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This represents a 19.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,744 shares of company stock valued at $14,356,010 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $329.21 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $313.23 and a two-hundred day moving average price of $325.27. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51. The company has a market capitalization of $590.53 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 earnings per share. As a group, research analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa declared that its board has approved a share repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is currently 23.34%.

Wall Street Analyst Weigh In

Several research firms have commented on V. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. UBS Group upped their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Oppenheimer reiterated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Finally, Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, February 2nd. Six analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $387.67.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.