Grant GrossMendelsohn LLC Has $747,000 Position in Visa Inc. (NYSE:V)

Grant GrossMendelsohn LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 2,363 shares of the credit-card processor’s stock after selling 39 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in Visa were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth about $26,000. Decker Retirement Planning Inc. bought a new position in Visa in the 4th quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter worth approximately $31,000. Modus Advisors LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Finally, West Financial Advisors LLC grew its stake in shares of Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $319.97 on Friday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The firm has a market cap of $596.06 billion, a P/E ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business’s fifty day moving average is $313.41 and its two-hundred day moving average is $288.45.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. During the same quarter in the prior year, the firm earned $2.33 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on V shares. Piper Sandler increased their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird increased their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Macquarie raised their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen boosted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

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.