Adell Harriman & Carpenter Inc. Sells 352 Shares of Visa Inc. (NYSE:V)

Adell Harriman & Carpenter Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,058 shares of the credit-card processor’s stock after selling 352 shares during the period. Visa comprises about 2.2% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 13th largest position. Adell Harriman & Carpenter Inc.’s holdings in Visa were worth $29,711,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in shares of Visa during the second quarter valued at about $35,000. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the 2nd quarter valued at about $35,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $290.16 on Thursday. The company has a fifty day simple moving average of $280.09 and a 200-day simple moving average of $273.38. The firm has a market capitalization of $530.68 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.95 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52-week low of $232.99 and a 52-week high of $295.78.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. Visa’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on V. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup raised their price objective on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group raised their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $320.07.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by company 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.