Carret Asset Management LLC Has $7.43 Million Stake in Visa Inc. (NYSE:V)

Carret Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,212 shares of the credit-card processor’s stock after selling 80 shares during the quarter. Visa accounts for 0.8% of Carret Asset Management LLC’s holdings, making the stock its 28th biggest position. Carret Asset Management LLC’s holdings in Visa were worth $7,434,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of V. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the 4th quarter worth approximately $27,000. Compass Planning Associates Inc acquired a new stake in Visa in the 4th quarter valued at $32,000. NewSquare Capital LLC acquired a new stake in Visa in the 4th quarter valued at $35,000. FPC Investment Advisory Inc. increased its stake in Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.7%

Shares of V opened at $338.04 on Friday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The firm has a market cap of $623.73 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. The firm’s 50-day simple moving average is $351.78 and its 200 day simple moving average is $338.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 EPS. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price on the stock. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,807.49. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock valued at $36,738,526 in the last quarter. Company insiders own 0.13% 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.