Granite Bay Wealth Management LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Granite Bay Wealth Management LLC lessened its stake in Visa Inc. (NYSE:V) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,010 shares of the credit-card processor’s stock after selling 237 shares during the period. Visa accounts for approximately 0.5% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Granite Bay Wealth Management LLC’s holdings in Visa were worth $828,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after acquiring an additional 4,099,122 shares during the last quarter. Swedbank AB purchased a new stake in shares of Visa during the first quarter worth about $511,321,000. GQG Partners LLC grew its stake in shares of Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares during the last quarter. Finally, Wulff Hansen & CO. boosted its position in Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.1 %

NYSE V opened at $276.86 on Friday. The business has a fifty day moving average price of $272.63 and a 200 day moving average price of $273.12. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $506.36 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. Research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Oppenheimer initiated coverage on Visa in a research report on Tuesday. They issued an “outperform” rating and a $318.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $312.04.

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.