Carnegie Capital Asset Management LLC Increases Stake in Visa Inc. (V)
Carnegie Capital Asset Management LLC grew its stake in shares of Visa Inc. (NYSE:V) by 27.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,763 shares of the credit-card processor’s stock after purchasing an additional 3,214 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Visa were worth $1,492,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after buying an additional 2,628,148 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after buying an additional 1,440,034 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock worth $1,464,483,000 after buying an additional 452,183 shares in the last quarter. Polen Capital Management LLC lifted its stake in shares of Visa by 7.7% in the second quarter. Polen Capital Management LLC now owns 10,425,812 shares of the credit-card processor’s stock worth $977,733,000 after buying an additional 745,312 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after buying an additional 2,677,533 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the transaction, the senior vice president now owns 687 shares in the company, valued at $77,005.83. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
Shares of Visa Inc. (NYSE V) traded up $1.20 during midday trading on Monday, hitting $112.60. 7,594,900 shares of the stock were exchanged, compared to its average volume of 7,659,990. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $233,266.78, a PE ratio of 32.36, a PEG ratio of 1.65 and a beta of 0.97. Visa Inc. has a 1 year low of $77.19 and a 1 year high of $113.62.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts expect that Visa Inc. will post 4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Friday, November 17th were given a dividend of $0.195 per share. This is a positive change from Visa’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, November 16th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s dividend payout ratio is currently 27.86%.
Several brokerages have recently issued reports on V. Wells Fargo & Company upgraded shares of Visa from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $107.01 to $120.00 in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald started coverage on shares of Visa in a report on Thursday, September 28th. They set an “overweight” rating and a $120.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $110.00 price objective on shares of Visa in a report on Friday, August 25th. Finally, Buckingham Research boosted their price objective on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $117.08.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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