Carrera Capital Advisors Increases Stock Position in Visa Inc. (NYSE:V)

by · The Markets Daily

Carrera Capital Advisors boosted its stake in Visa Inc. (NYSE:V – Free Report) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,726 shares of the credit-card processor’s stock after purchasing an additional 201 shares during the quarter. Carrera Capital Advisors’ holdings in Visa were worth $605,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of V. FWL Investment Management LLC lifted its position in shares of Visa by 0.5% in 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. raised its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC raised its position in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after purchasing an additional 29 shares during the period. Capstone Financial Advisors Inc. raised its position in Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after purchasing an additional 30 shares during the period. Finally, Headinvest LLC raised its position in Visa by 0.8% during 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 period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 0.8%

Visa stock opened at $356.93 on Monday. The business has a fifty day moving average of $356.30 and a two-hundred day moving average of $345.45. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $658.60 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.41 and a beta of 0.92. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51.

Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa’s revenue 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. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $375.52.

Read Our Latest Stock Analysis on Visa

Visa Company Profile

(Free Report)

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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