Carrera Capital Advisors Grows Stake in Visa Inc. (NYSE:V)

Carrera Capital Advisors increased its position in Visa Inc. (NYSE:V) by 9.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,470 shares of the credit-card processor’s stock after acquiring an additional 126 shares during the quarter. Carrera Capital Advisors’ holdings in Visa were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa in the 3rd quarter worth $31,000. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $309.82 on Wednesday. Visa Inc. has a 52 week low of $244.11 and a 52 week high of $312.44. The company has a market capitalization of $564.59 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The stock’s fifty day moving average is $284.64 and its two-hundred day moving average is $274.92. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 21.38%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Royal Bank of Canada lifted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Finally, Mizuho upped their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.