Carnegie Investment Counsel Has $28.45 Million Stock Holdings in Visa Inc. (NYSE:V)

Carnegie Investment Counsel raised its holdings in Visa Inc. (NYSE:V) by 7.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,481 shares of the credit-card processor’s stock after buying an additional 7,106 shares during the quarter. Carnegie Investment Counsel’s holdings in Visa were worth $28,452,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB bought a new position in Visa in the first quarter worth $511,321,000. GQG Partners LLC boosted its stake in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. increased its holdings in Visa by 26,951.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.1 %

Shares of NYSE V opened at $277.84 on Friday. The firm has a 50 day moving average price of $274.16 and a two-hundred day moving average price of $272.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $508.15 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the firm posted $2.16 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. Morgan Stanley restated an “overweight” rating and issued a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Oppenheimer began coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target for the company. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

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.