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

Key Points

• Cary Street Partners Investment Advisory LLC increased its stake in Visa Inc. by 21.1% during the 1st quarter, now owning 6,995 shares valued at approximately $2.45 million.
• Insider transactions revealed significant sales, with Paul D. Fabara selling 46,214 shares for over $17 million, resulting in a 63.63% decrease in his holdings.
• Analysts project a strong outlook for Visa, with several firms setting price targets above $400, indicating a consensus rating of "Moderate Buy" and an average target price of $380.84.

Cary Street Partners Investment Advisory LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,995 shares of the credit-card processor's stock after acquiring an additional 1,221 shares during the period. Visa accounts for 1.4% of Cary Street Partners Investment Advisory LLC's holdings, making the stock its 9th largest position. Cary Street Partners Investment Advisory LLC's holdings in Visa were worth $2,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. FWL Investment Management LLC increased its holdings in shares of Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after buying an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. grew its position in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares during the last quarter. Semus Wealth Partners LLC grew its position in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after acquiring an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. increased its holdings in Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after purchasing an additional 30 shares in the last quarter. Finally, Headinvest LLC raised its position in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,913 shares of company stock worth $32,902,432. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on V shares. Barclays restated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Jefferies Financial Group upped their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. UBS Group reaffirmed a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Evercore ISI started coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

NYSE:V opened at $342.12 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The company has a fifty day moving average of $354.82 and a 200-day moving average of $346.91. The firm has a market capitalization of $631.27 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.26 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the company posted $2.42 earnings per share. The business's quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

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.

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