Graypoint LLC Has $4.95 Million Position in Visa Inc. (NYSE:V)

Graypoint LLC boosted its position in Visa Inc. (NYSE:V) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,002 shares of the credit-card processor’s stock after buying an additional 149 shares during the quarter. Graypoint LLC’s holdings in Visa were worth $4,950,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Visa by 0.6% in the first 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 stake in Visa by 2.7% in 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 in the last quarter. Capital World Investors increased its position in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on V. Macquarie lifted their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Performance

NYSE V opened at $307.36 on Thursday. The firm’s 50 day simple moving average is $282.69 and its 200 day simple moving average is $274.20. The firm has a market capitalization of $560.11 billion, a price-to-earnings ratio of 31.59, a P/E/G ratio of 1.96 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $309.00.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the firm posted $2.33 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

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.