Visa Inc. (NYSE:V) Shares Sold by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC lowered its holdings in Visa Inc. (NYSE:V) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,010 shares of the credit-card processor’s stock after selling 237 shares during the period. Visa accounts for 0.5% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. Granite Bay Wealth Management LLC’s holdings in Visa were worth $828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J. W. Coons Advisors LLC grew its position in Visa by 1.2% during the fourth quarter. J. W. Coons Advisors LLC now owns 9,446 shares of the credit-card processor’s stock valued at $2,459,000 after acquiring an additional 108 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in Visa during the fourth quarter valued at about $33,000. CFS Investment Advisory Services LLC grew its position in Visa by 11.4% during the fourth quarter. CFS Investment Advisory Services LLC now owns 2,387 shares of the credit-card processor’s stock valued at $621,000 after acquiring an additional 245 shares during the period. Kolinsky Wealth Management LLC grew its position in Visa by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 3,765 shares of the credit-card processor’s stock valued at $980,000 after acquiring an additional 61 shares during the period. Finally, Prudential PLC grew its position in Visa by 1.1% during the fourth quarter. Prudential PLC now owns 150,427 shares of the credit-card processor’s stock valued at $39,164,000 after acquiring an additional 1,695 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.1 %

Shares of Visa stock opened at $276.86 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $272.63 and its 200-day simple moving average is $273.12. The stock has a market capitalization of $506.36 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS. Equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Analyst Ratings Changes

V has been the subject of a number of research reports. TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Company 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.