Grassi Investment Management Sells 124 Shares of Visa Inc. (NYSE:V)

Grassi Investment Management lowered its stake in Visa Inc. (NYSE:V) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,958 shares of the credit-card processor’s stock after selling 124 shares during the period. Visa accounts for 2.4% of Grassi Investment Management’s portfolio, making the stock its 8th largest position. Grassi Investment Management’s holdings in Visa were worth $27,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of V. Vanguard Group Inc. increased its stake in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the last quarter. Capital International Investors grew its holdings in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors grew its holdings in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. increased its stake in Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. TD Cowen lowered their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Stock Performance

V opened at $283.22 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The business has a 50 day moving average of $278.40 and a 200-day moving average of $273.10. The stock has a market cap of $517.99 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.96 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. On average, equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa 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.