Carnegie Investment Counsel Buys 71,542 Shares of Visa Inc. (NYSE:V)

Carnegie Investment Counsel increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 70.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 172,468 shares of the credit-card processor's stock after purchasing an additional 71,542 shares during the quarter. Visa accounts for 1.3% of Carnegie Investment Counsel's holdings, making the stock its 14th biggest holding. Carnegie Investment Counsel's holdings in Visa were worth $56,582,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the business. FWL Investment Management LLC boosted its stake in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Yeomans Consulting Group Inc. boosted its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares during the period. Capstone Financial Advisors Inc. boosted its position in shares of Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after buying an additional 30 shares during the period. Headinvest LLC raised its holdings in Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after purchasing an additional 30 shares in the last quarter. Finally, Kennebec Savings Bank raised its holdings in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last quarter. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V traded down $0.99 during trading hours on Thursday, reaching $354.30. 5,882,734 shares of the company traded hands, compared to its average volume of 5,551,461. The stock's fifty day moving average is $356.47 and its 200 day moving average is $344.69. The stock has a market cap of $653.74 billion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Finally, Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $375.52.

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.