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

Granite Bay Wealth Management LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. GoalVest Advisory LLC raised its holdings in shares of Visa by 3.4% in the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after acquiring an additional 40 shares in the last quarter. Destiny Wealth Partners LLC raised its holdings in shares of Visa by 2.5% during the 4th quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock valued at $433,000 after buying an additional 40 shares in the last quarter. Sunflower Bank N.A. raised its holdings in shares of Visa by 1.3% during the 4th quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock valued at $818,000 after buying an additional 41 shares in the last quarter. HWG Holdings LP raised its holdings in shares of Visa by 18.4% during the 2nd quarter. HWG Holdings LP now owns 270 shares of the credit-card processor’s stock valued at $64,000 after buying an additional 42 shares in the last quarter. Finally, Parker Financial LLC raised its holdings in shares of Visa by 4.8% during the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock valued at $241,000 after buying an additional 42 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 1.7 %

Visa stock opened at $271.28 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $498.21 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 1.91 and a beta of 0.96. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The business has a fifty day moving average price of $280.04 and a 200-day moving average price of $262.19.

Visa (NYSE:V) last issued its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. Equities research analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling

In other Visa news, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders sold 55,511 shares of company stock worth $15,131,081 in the last 90 days. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 26th. Keefe, Bruyette & Woods lifted their price target on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Evercore ISI lifted their price target on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Finally, UBS Group lifted their price target on Visa from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.87.

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.