Visa Inc. $V is Grassi Investment Management’s 7th Largest Position

Grassi Investment Management reduced its position in Visa Inc. (NYSE:V) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,967 shares of the credit-card processor’s stock after selling 249 shares during the quarter. Visa comprises approximately 2.8% of Grassi Investment Management’s portfolio, making the stock its 7th biggest position. Grassi Investment Management’s holdings in Visa were worth $35,138,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its position in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. Wedge Capital Management L L P NC raised its stake in Visa by 4.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,562 shares of the credit-card processor’s stock valued at $898,000 after acquiring an additional 116 shares during the last quarter. Cedar Mountain Advisors LLC lifted its position in Visa by 28.5% during the 1st quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor’s stock worth $59,000 after acquiring an additional 37 shares during the period. Finally, Bennett Selby Investments LP grew its stake in shares of Visa by 1.7% in the 1st quarter. Bennett Selby Investments LP now owns 55,727 shares of the credit-card processor’s stock valued at $19,530,000 after purchasing an additional 953 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V opened at $349.21 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $273.24 and a 52-week high of $375.51. The company has a 50-day simple moving average of $343.65 and a 200-day simple moving average of $346.89. The company has a market capitalization of $640.03 billion, a PE ratio of 34.10, a P/E/G ratio of 2.07 and a beta of 0.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group restated a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Morgan Stanley increased their price target on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $389.00.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.