Visa Inc. (NYSE:V) Holdings Trimmed by Grassi Investment Management

Grassi Investment Management trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,274 shares of the credit-card processor's stock after selling 1,684 shares during the quarter. Visa accounts for approximately 2.7% of Grassi Investment Management's holdings, making the stock its 7th largest position. Grassi Investment Management's holdings in Visa were worth $31,375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new position in shares of Visa during the 3rd quarter worth $26,000. Reston Wealth Management LLC purchased a new position in Visa during the third quarter valued at $31,000. Modus Advisors LLC bought a new stake in Visa during the fourth quarter valued at about $32,000. Fairway Wealth LLC purchased a new stake in Visa in the second quarter worth about $39,000. Finally, West Financial Advisors LLC raised its stake in shares of Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor's stock worth $40,000 after buying an additional 73 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. Monness Crespi & Hardt restated a "neutral" rating on shares of Visa in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Visa from $300.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. TD Cowen increased their price objective on shares of Visa from $318.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Visa from $335.00 to $360.00 and gave the company an "outperform" rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $330.85.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of NYSE V traded down $1.12 during mid-day trading on Monday, reaching $306.59. The company's stock had a trading volume of 9,568,338 shares, compared to its average volume of 6,080,117. The stock has a 50-day moving average of $312.44 and a two-hundred day moving average of $287.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $571.14 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business's revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio (DPR) is currently 24.25%.

About Visa

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.