Grassi Investment Management Has $24.08 Million Position in Visa Inc. (NYSE:V)

Grassi Investment Management lowered its stake in Visa Inc. (NYSE:V) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 101,378 shares of the credit-card processor’s stock after selling 241 shares during the period. Visa makes up approximately 2.6% of Grassi Investment Management’s investment portfolio, making the stock its 6th biggest position. Grassi Investment Management’s holdings in Visa were worth $24,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp grew its position in Visa by 3.7% in the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock valued at $16,435,339,000 after acquiring an additional 2,572,159 shares during the last quarter. Morgan Stanley boosted its position in Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after buying an additional 5,864,340 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Visa by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock worth $10,616,564,000 after buying an additional 2,216,275 shares during the last quarter. Geode Capital Management LLC grew its position in Visa by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 32,221,146 shares of the credit-card processor’s stock worth $6,683,673,000 after acquiring an additional 640,839 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

Visa Stock Up 1.5 %

Shares of NYSE:V opened at $244.64 on Tuesday. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $250.06. The company has a market capitalization of $455.48 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.95. The business has a fifty day moving average price of $241.67 and a two-hundred day moving average price of $232.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.98 earnings per share. Analysts forecast that Visa Inc. will post 8.65 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio (DPR) is 22.84%.

Insiders Place Their Bets

In related news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $58,030,321.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Visa news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The disclosure for this sale can be found here. Insiders sold 81,550 shares of company stock valued at $19,795,806 over the last ninety days. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on V shares. Jefferies Financial Group upped their price target on shares of Visa from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Truist Financial increased their price target on Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. Bank of America raised their price objective on Visa from $270.00 to $275.00 in a research report on Tuesday, July 18th. Royal Bank of Canada upped their target price on Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Finally, Mizuho restated a “neutral” rating and issued a $255.00 price target on shares of Visa in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.77.

Visa Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.