Visa Inc. (NYSE:V) Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. grew its stake in Visa Inc. (NYSE:V) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,331 shares of the credit-card processor’s stock after purchasing an additional 1,336 shares during the period. Grimes & Company Inc.’s holdings in Visa were worth $18,512,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. WoodTrust Financial Corp boosted its holdings in shares of Visa by 5.3% in the first quarter. WoodTrust Financial Corp now owns 3,685 shares of the credit-card processor’s stock valued at $1,028,000 after acquiring an additional 185 shares during the period. Griffin Asset Management Inc. boosted its stake in shares of Visa by 8.6% during the first quarter. Griffin Asset Management Inc. now owns 50,236 shares of the credit-card processor’s stock valued at $14,020,000 after acquiring an additional 3,978 shares during the last quarter. Criterion Capital Advisors LLC boosted its stake in shares of Visa by 2.1% during the first quarter. Criterion Capital Advisors LLC now owns 9,398 shares of the credit-card processor’s stock valued at $2,623,000 after acquiring an additional 189 shares during the last quarter. Trifecta Capital Advisors LLC boosted its stake in Visa by 1.8% in the 1st quarter. Trifecta Capital Advisors LLC now owns 21,122 shares of the credit-card processor’s stock worth $5,895,000 after buying an additional 376 shares during the last quarter. Finally, Occidental Asset Management LLC raised its holdings in shares of Visa by 7.9% in the 1st quarter. Occidental Asset Management LLC now owns 13,413 shares of the credit-card processor’s stock worth $3,743,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.5 %

Shares of NYSE:V traded down $4.12 during midday trading on Friday, hitting $262.47. 13,957,270 shares of the stock traded hands, compared to its average volume of 8,762,266. The stock has a market capitalization of $480.04 billion, a PE ratio of 29.33, a P/E/G ratio of 1.82 and a beta of 0.97. The business’s 50 day moving average is $273.88 and its two-hundred day moving average is $273.50. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $227.68 and a one year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.09 earnings per share. As a group, research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.79%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were 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 directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, 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 available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on V shares. Oppenheimer boosted their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Wedbush boosted their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Piper Sandler started coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

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.