Carret Asset Management LLC Has $6.73 Million Stock Position in Visa Inc. (NYSE:V)

Carret Asset Management LLC boosted its stake in Visa Inc. (NYSE:V) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 21,292 shares of the credit-card processor’s stock after buying an additional 195 shares during the period. Carret Asset Management LLC’s holdings in Visa were worth $6,729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Raymond James Financial Inc. acquired a new position in Visa in the 4th quarter valued at about $1,955,403,000. Proficio Capital Partners LLC grew its stake in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. State Street Corp grew its stake in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. FMR LLC grew its stake in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on V. Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. UBS Group boosted their price objective on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America boosted their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Trading Down 1.5 %

V opened at $327.98 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $609.32 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a fifty day moving average price of $337.62 and a two-hundred day moving average price of $310.18.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,505 shares of company stock valued at $22,290,507 over 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.