Carl P. Sherr & Co. LLC Increases Holdings in Visa Inc. (NYSE:V)

Carl P. Sherr & Co. LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,906 shares of the credit-card processor’s stock after purchasing an additional 60 shares during the quarter. Visa makes up 0.9% of Carl P. Sherr & Co. LLC’s investment portfolio, making the stock its 27th largest holding. Carl P. Sherr & Co. LLC’s holdings in Visa were worth $1,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its stake in shares of Visa by 5.7% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 831 shares of the credit-card processor’s stock worth $228,000 after acquiring an additional 45 shares during the period. Vinva Investment Management Ltd boosted its stake in Visa by 14.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 74,940 shares of the credit-card processor’s stock worth $20,621,000 after purchasing an additional 9,588 shares during the period. Financial Counselors Inc. boosted its stake in Visa by 3.7% in the 3rd quarter. Financial Counselors Inc. now owns 235,941 shares of the credit-card processor’s stock worth $64,872,000 after purchasing an additional 8,474 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after purchasing an additional 123,927 shares during the period. Finally, Noesis Capital Mangement Corp boosted its stake in Visa by 76.7% in the 3rd quarter. Noesis Capital Mangement Corp now owns 52,645 shares of the credit-card processor’s stock worth $14,475,000 after purchasing an additional 22,853 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Susquehanna raised their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Barclays raised their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Compass Point started coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

NYSE V opened at $314.70 on Friday. The firm has a market cap of $586.25 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $291.48 and a 200-day moving average price of $278.31. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $316.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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.