Visa Inc. $V Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 12.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,020 shares of the credit-card processor’s stock after selling 10,480 shares during the period. Visa makes up 1.5% of Granite Investment Partners LLC’s portfolio, making the stock its 9th biggest position. Granite Investment Partners LLC’s holdings in Visa were worth $25,952,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. TSA Wealth Managment LLC lifted its position in Visa by 4.9% in the 3rd quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor’s stock valued at $225,000 after acquiring an additional 31 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Visa by 3.0% in the third quarter. Koshinski Asset Management Inc. now owns 9,182 shares of the credit-card processor’s stock valued at $3,135,000 after purchasing an additional 265 shares in the last quarter. Westerkirk Capital Inc. boosted its position in shares of Visa by 8.3% during the third quarter. Westerkirk Capital Inc. now owns 43,053 shares of the credit-card processor’s stock worth $14,697,000 after buying an additional 3,287 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Visa by 1.5% during the third quarter. Bleakley Financial Group LLC now owns 60,050 shares of the credit-card processor’s stock worth $20,500,000 after buying an additional 883 shares in the last quarter. Finally, Gardner Lewis Asset Management L P acquired a new stake in Visa in the 3rd quarter valued at approximately $1,338,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of NYSE V opened at $320.90 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $336.40 and its two-hundred day moving average price is $338.95. The company has a market cap of $582.49 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.84 and a beta of 0.79. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51.

Visa (NYSE:V) last posted its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the firm earned $2.75 EPS. The firm’s revenue was up 14.6% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is presently 25.14%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, January 27th. Freedom Capital raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Robert W. Baird set a $425.00 price target on shares of Visa in a research report on Wednesday, October 29th. Evercore set a $380.00 price objective on shares of Visa in a research note on Friday, December 12th. Finally, Macquarie Infrastructure restated an “outperform” rating and issued a $410.00 price objective on shares of Visa in a report on Friday, January 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $391.43.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.