Carret Asset Management LLC Trims Stock Position in Visa Inc. $V

Carret Asset Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 0.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,012 shares of the credit-card processor’s stock after selling 200 shares during the period. Carret Asset Management LLC’s holdings in Visa were worth $7,460,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Spinnaker Trust raised its stake in shares of Visa by 0.9% during the 2nd quarter. Spinnaker Trust now owns 31,086 shares of the credit-card processor’s stock valued at $11,037,000 after buying an additional 277 shares during the last quarter. Savvy Advisors Inc. raised its stake in shares of Visa by 42.3% during the 2nd quarter. Savvy Advisors Inc. now owns 18,983 shares of the credit-card processor’s stock valued at $6,740,000 after buying an additional 5,642 shares during the last quarter. Live Oak Private Wealth LLC raised its stake in shares of Visa by 1.6% during the 2nd quarter. Live Oak Private Wealth LLC now owns 27,384 shares of the credit-card processor’s stock valued at $9,723,000 after buying an additional 444 shares during the last quarter. Noesis Capital Mangement Corp raised its stake in shares of Visa by 4.4% during the 2nd quarter. Noesis Capital Mangement Corp now owns 55,701 shares of the credit-card processor’s stock valued at $19,777,000 after buying an additional 2,358 shares during the last quarter. Finally, Grant Street Asset Management Inc. raised its stake in shares of Visa by 15.5% during the 2nd quarter. Grant Street Asset Management Inc. now owns 1,860 shares of the credit-card processor’s stock valued at $660,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on V shares. Barclays reiterated an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. UBS Group set a $425.00 target price on Visa and gave the company a “buy” rating in a research report on Wednesday. Macquarie dropped their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Visa Trading Down 1.1%

V stock opened at $341.07 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $287.19 and a 12-month high of $375.51. The stock has a market cap of $625.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.06 and a beta of 0.90. The business’s 50-day moving average is $344.78 and its 200 day moving average is $348.31.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm posted $2.71 EPS. Visa’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is presently 23.11%.

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.