Visa Inc. (NYSE:V) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel trimmed its position in shares of Visa Inc. (NYSE:V) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,375 shares of the credit-card processor’s stock after selling 983 shares during the period. Carnegie Investment Counsel’s holdings in Visa were worth $25,295,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Wright Investors Service Inc. increased its stake in Visa by 4.4% in the 4th quarter. Wright Investors Service Inc. now owns 16,689 shares of the credit-card processor’s stock valued at $4,345,000 after buying an additional 707 shares during the period. Dock Street Asset Management Inc. boosted its position in Visa by 2.5% in the 4th quarter. Dock Street Asset Management Inc. now owns 140,292 shares of the credit-card processor’s stock valued at $36,525,000 after buying an additional 3,420 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in Visa by 3.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,390 shares of the credit-card processor’s stock valued at $362,000 after purchasing an additional 43 shares in the last quarter. Cambridge Trust Co. increased its holdings in Visa by 3.3% during the 4th quarter. Cambridge Trust Co. now owns 211,594 shares of the credit-card processor’s stock worth $55,088,000 after purchasing an additional 6,710 shares during the last quarter. Finally, Ninety One SA PTY Ltd raised its position in shares of Visa by 24.4% in the 4th quarter. Ninety One SA PTY Ltd now owns 67,780 shares of the credit-card processor’s stock valued at $17,647,000 after purchasing an additional 13,280 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.3 %

Visa stock traded up $0.88 during mid-day trading on Tuesday, reaching $267.35. The stock had a trading volume of 2,224,663 shares, compared to its average volume of 7,192,392. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The stock’s 50-day simple moving average is $266.24 and its 200-day simple moving average is $273.50. The firm has a market capitalization of $487.19 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 EPS. On average, sell-side analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Bank of America reaffirmed a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Wednesday, July 24th. Jefferies Financial Group decreased their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, UBS Group upped their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $308.50.

Visa Company 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.