Adell Harriman & Carpenter Inc. Raises Holdings in Visa Inc. (NYSE:V)

Adell Harriman & Carpenter Inc. raised its holdings in shares of Visa Inc. (NYSE:V) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,219 shares of the credit-card processor’s stock after purchasing an additional 6,895 shares during the quarter. Visa accounts for approximately 2.5% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 8th largest position. Adell Harriman & Carpenter Inc.’s holdings in Visa were worth $27,394,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of V. Investment Advisory Services Inc. TX ADV boosted its holdings in Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after acquiring an additional 78 shares during the last quarter. Nadler Financial Group Inc. increased its stake in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares during the last quarter. Towerpoint Wealth LLC purchased a new position in shares of Visa in the 4th quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. bought a new position in shares of Visa in the fourth quarter valued at approximately $3,427,000. Finally, Wayfinding Financial LLC increased its position in shares of Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE V traded down $2.68 during trading hours on Monday, reaching $271.84. 4,128,577 shares of the stock traded hands, compared to its average volume of 5,929,685. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a 50 day simple moving average of $279.24 and a two-hundred day simple moving average of $264.73. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a market cap of $499.24 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analysts Set New Price Targets

A number of research firms have weighed in on V. Wedbush boosted their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Citigroup upped their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Finally, Evercore ISI upped their price objective on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $302.58.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,874 shares of company stock worth $5,506,827. Company insiders own 0.19% of the company’s stock.

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.