Grandfield & Dodd LLC Sells 50 Shares of Visa Inc. (NYSE:V)

Grandfield & Dodd LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,435 shares of the credit-card processor’s stock after selling 50 shares during the period. Grandfield & Dodd LLC’s holdings in Visa were worth $944,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in V. Peterson Financial Group Inc. bought a new stake in Visa in the third quarter valued at approximately $26,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Down 0.1 %

Shares of V opened at $311.85 on Wednesday. The firm has a market cap of $568.29 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 52 week low of $245.60 and a 52 week high of $312.44. The firm’s 50-day simple moving average is $288.10 and its 200 day simple moving average is $276.63.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. On average, analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 24.25%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Barclays boosted their target price on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.