Grant Street Asset Management Inc. Has $660,000 Stock Position in Visa Inc. $V

Grant Street Asset Management Inc. grew its stake in shares of Visa Inc. (NYSE:V) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,860 shares of the credit-card processor’s stock after purchasing an additional 249 shares during the quarter. Grant Street Asset Management Inc.’s holdings in Visa were worth $660,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. increased its position in shares of Visa by 24.1% during the 2nd quarter. Assetmark Inc. now owns 191,444 shares of the credit-card processor’s stock worth $67,972,000 after purchasing an additional 37,213 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Visa by 1.7% during the 2nd quarter. HBK Sorce Advisory LLC now owns 25,064 shares of the credit-card processor’s stock worth $8,899,000 after acquiring an additional 412 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in shares of Visa by 4.0% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 11,196 shares of the credit-card processor’s stock worth $3,975,000 after acquiring an additional 430 shares during the last quarter. Buck Wealth Strategies LLC increased its holdings in shares of Visa by 10.8% during the 2nd quarter. Buck Wealth Strategies LLC now owns 30,302 shares of the credit-card processor’s stock worth $10,759,000 after acquiring an additional 2,960 shares during the last quarter. Finally, Arkadios Wealth Advisors increased its holdings in shares of Visa by 27.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 38,434 shares of the credit-card processor’s stock worth $13,646,000 after acquiring an additional 8,180 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday. Barclays reissued an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday. Finally, Macquarie decreased their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

Shares of NYSE V opened at $341.07 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The stock’s fifty day moving average price is $344.78 and its two-hundred day moving average price is $348.31. Visa Inc. has a one year low of $287.19 and a one year high of $375.51. The firm has a market cap of $625.11 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the prior year, the firm posted $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is currently 23.11%.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.13% 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.