Graypoint LLC Purchases 1,279 Shares of Visa Inc. (NYSE:V)

Graypoint LLC grew its position in shares of Visa Inc. (NYSE:VFree Report) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,176 shares of the credit-card processor’s stock after buying an additional 1,279 shares during the period. Graypoint LLC’s holdings in Visa were worth $4,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. boosted its holdings in shares of Visa by 1,148.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 8,599 shares of the credit-card processor’s stock worth $1,978,000 after acquiring an additional 7,910 shares during the period. Revisor Wealth Management LLC purchased a new position in Visa during the 3rd quarter valued at about $931,000. Creative Planning increased its position in shares of Visa by 7.8% during the third quarter. Creative Planning now owns 519,481 shares of the credit-card processor’s stock valued at $119,486,000 after buying an additional 37,446 shares during the period. Mezzasalma Advisors LLC lifted its holdings in shares of Visa by 1.4% in the third quarter. Mezzasalma Advisors LLC now owns 26,722 shares of the credit-card processor’s stock worth $6,146,000 after buying an additional 360 shares in the last quarter. Finally, Spartan Planning & Wealth Management bought a new position in shares of Visa in the third quarter valued at approximately $316,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.4 %

V stock traded down $1.05 during midday trading on Tuesday, hitting $265.35. The company had a trading volume of 652,080 shares, compared to its average volume of 6,792,605. The stock’s 50 day moving average price is $273.13 and its 200 day moving average price is $273.96. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $485.31 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.85 and a beta of 0.95.

Visa (NYSE:VGet Free Report) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. TD Cowen assumed coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Wedbush lifted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler began coverage on shares of Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Read Our Latest Research Report on Visa

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

About Visa

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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