Adell Harriman & Carpenter Inc. Acquires 6,895 Shares of Visa Inc. (NYSE:V)

Adell Harriman & Carpenter Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,219 shares of the credit-card processor’s stock after acquiring an additional 6,895 shares during the period. Visa comprises 2.5% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 8th largest holding. Adell Harriman & Carpenter Inc.’s holdings in Visa were worth $27,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC grew its stake in Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after acquiring an additional 2,257,605 shares during the period. Northern Trust Corp grew its position in shares of Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after purchasing an additional 763,505 shares during the period. Ameriprise Financial Inc. increased its stake in Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after purchasing an additional 374,489 shares during the last quarter. Jennison Associates LLC increased its stake in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in Visa by 1.5% during the third quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after buying an additional 108,280 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V traded down $2.68 during midday trading on Monday, hitting $271.84. 4,128,577 shares of the company’s stock were exchanged, compared to its average volume of 5,929,685. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $499.24 billion, a P/E ratio of 30.37, a PEG ratio of 1.89 and a beta of 0.96. The stock’s 50 day moving average price is $279.24 and its 200-day moving average price is $264.73.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. Equities research analysts anticipate that Visa Inc. will post 9.89 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,874 shares of company stock worth $5,506,827. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Macquarie upped their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Citigroup lifted their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company lifted their price target on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Visa 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.