Cary Street Partners Investment Advisory LLC Grows Holdings in Visa Inc. (NYSE:V)

Cary Street Partners Investment Advisory LLC raised its stake in Visa Inc. (NYSE:V) by 21.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,618 shares of the credit-card processor’s stock after acquiring an additional 1,875 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Visa were worth $2,522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Visa by 107,990.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock valued at $474,634,314,000 after purchasing an additional 1,996,779,546 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the period. Norges Bank bought a new stake in shares of Visa in the fourth quarter valued at approximately $3,067,232,000. Morgan Stanley raised its position in shares of Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Visa by 130.4% in the first quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock valued at $680,069,000 after purchasing an additional 3,986,135 shares during the period. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.4 %

Shares of Visa stock opened at $249.56 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49. The company has a 50-day moving average of $238.42 and a 200 day moving average of $236.12. The firm has a market cap of $464.64 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.66 and a beta of 0.95. Visa Inc. has a 1 year low of $202.13 and a 1 year high of $250.24.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.10. The company had revenue of $8.61 billion during the quarter, compared to analyst estimates of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. Visa’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $1.93 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 9.9 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.52 per share. This is a positive change from Visa’s previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Wednesday, November 8th. Visa’s dividend payout ratio (DPR) is currently 25.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $284.00 target price on shares of Visa in a report on Thursday, September 14th. Barclays decreased their target price on shares of Visa from $285.00 to $278.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. KeyCorp increased their price target on shares of Visa from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Citigroup increased their price target on shares of Visa from $273.00 to $275.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.67.

Insider Buying and Selling at Visa

In other news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the sale, the chairman now owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the sale, the chairman now directly owns 139,854 shares in the company, valued at approximately $33,025,123.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,100 shares of company stock worth $17,368,639. 0.22% of the stock is owned by corporate insiders.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.