Granite Bay Wealth Management LLC Sells 4,277 Shares of Visa Inc. (NYSE:V)

Granite Bay Wealth Management LLC lowered its stake in Visa Inc. (NYSE:V) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,349 shares of the credit-card processor’s stock after selling 4,277 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Visa were worth $31,839,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in Visa by 3.7% during the 1st quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock worth $16,435,339,000 after acquiring an additional 2,572,159 shares during the last quarter. Morgan Stanley raised its stake in Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares during the period. FMR LLC raised its stake in Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of Visa by 116,608.6% during 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 buying an additional 24,483,134 shares during the period. Finally, Northern Trust Corp increased its position in shares of Visa by 4.7% during the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after buying an additional 763,505 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Barclays upped their price objective on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. UBS Group increased their price objective on Visa from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, January 26th. KeyCorp raised their price target on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Keefe, Bruyette & Woods increased their price objective on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Citigroup raised their target price on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.87.

Visa Price Performance

V opened at $271.28 on Tuesday. The business has a fifty day moving average of $280.04 and a 200 day moving average of $262.19. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a market cap of $498.21 billion, a P/E ratio of 31.22, a PEG ratio of 1.91 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the previous year, the business earned $2.18 EPS. Visa’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 9.89 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is 23.94%.

Insiders Place Their Bets

In other Visa news, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $62,716,662.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Rajat Taneja sold 36,546 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,511 shares of company stock worth $15,131,081. 0.19% of the stock is currently owned by company 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.