Grimes & Company Inc. Has $17.69 Million Stake in Visa Inc. (NYSE:V)

Grimes & Company Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,962 shares of the credit-card processor’s stock after selling 49 shares during the quarter. Grimes & Company Inc.’s holdings in Visa were worth $17,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. International Assets Investment Management LLC grew its holdings in shares of Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC grew its holdings in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. State Street Corp increased its position in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC raised its stake in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

V stock opened at $334.16 on Tuesday. The stock has a market cap of $622.49 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The stock has a 50-day moving average price of $314.95 and a two-hundred day moving average price of $290.79. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $335.49. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm earned $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Susquehanna boosted their price objective on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research report on Wednesday, December 11th. Mizuho upped their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $335.52.

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.