Grassi Investment Management Trims Position in Visa Inc. (NYSE:V)

Grassi Investment Management reduced its position in shares of Visa Inc. (NYSE:V) by 0.1% in the first quarter, HoldingsChannel.com reports. The firm owned 101,281 shares of the credit-card processor’s stock after selling 99 shares during the period. Visa comprises 2.6% of Grassi Investment Management’s investment portfolio, making the stock its 8th largest position. Grassi Investment Management’s holdings in Visa were worth $28,265,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the fourth quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $33,000. Valued Wealth Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $37,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Visa in the fourth quarter worth about $40,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,402 shares of company stock valued at $9,559,382. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V opened at $275.20 on Friday. The company has a market capitalization of $503.32 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $273.97 and a 200 day moving average of $272.88. Visa Inc. has a twelve month low of $225.50 and a twelve month high of $290.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 9.94 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 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Ratings Changes

Several analysts have commented on V shares. Wedbush raised their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup raised their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Finally, Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.76.

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.