Garrison Point Advisors LLC Has $3.71 Million Position in Visa Inc. $V

Garrison Point Advisors LLC cut its holdings in Visa Inc. (NYSE:V) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,453 shares of the credit-card processor’s stock after selling 390 shares during the quarter. Visa makes up approximately 1.7% of Garrison Point Advisors LLC’s holdings, making the stock its 10th largest holding. Garrison Point Advisors LLC’s holdings in Visa were worth $3,711,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Kingsman Wealth Management Inc. purchased a new position in shares of Visa during the 1st quarter worth approximately $1,935,000. Capital & Planning LLC raised its position in shares of Visa by 25.1% in the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock worth $416,000 after acquiring an additional 238 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Visa by 1.3% in the 1st quarter. Allworth Financial LP now owns 116,092 shares of the credit-card processor’s stock valued at $38,973,000 after purchasing an additional 1,505 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on V shares. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Macquarie dropped their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Price Performance

Shares of V opened at $335.91 on Friday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market capitalization of $615.66 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The firm has a 50 day moving average of $343.52 and a 200 day moving average of $348.74. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

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

Visa Increases Dividend

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is owned by insiders.

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.