Granite Investment Partners LLC Has $30.71 Million Stock Position in Visa Inc. $V

Granite Investment Partners LLC reduced its holdings in Visa Inc. (NYSE:V) by 4.0% in the 2nd quarter, Holdings Channel reports. The fund owned 86,500 shares of the credit-card processor’s stock after selling 3,624 shares during the period. Visa makes up about 1.5% of Granite Investment Partners LLC’s portfolio, making the stock its 11th biggest position. Granite Investment Partners LLC’s holdings in Visa were worth $30,712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of V. Brighton Jones LLC increased its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Tiller Private Wealth Inc. grew its stake in Visa by 16.0% in the first quarter. Tiller Private Wealth Inc. now owns 1,423 shares of the credit-card processor’s stock valued at $499,000 after purchasing an additional 196 shares in the last quarter. Accent Capital Management LLC grew its stake in Visa by 1.8% in the first quarter. Accent Capital Management LLC now owns 14,942 shares of the credit-card processor’s stock valued at $5,236,000 after purchasing an additional 259 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Visa by 0.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 904,397 shares of the credit-card processor’s stock worth $316,955,000 after purchasing an additional 4,745 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 24,042 shares of company stock valued at $8,175,152. Insiders own 0.13% of the company’s stock.

Visa Trading Down 1.2%

Shares of V stock opened at $330.41 on Tuesday. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a market cap of $601.93 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 1.98 and a beta of 0.82. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $339.40 and its two-hundred day moving average is $346.93.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm earned $2.71 EPS. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is presently 26.25%.

Wall Street Analysts Forecast Growth

V has been the subject of several research reports. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Macquarie cut their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. UBS Group set a $425.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $400.00.

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.