Grantvest Financial Group LLC Makes New $335,000 Investment in Visa Inc. (NYSE:V)

Grantvest Financial Group LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,059 shares of the credit-card processor’s stock, valued at approximately $335,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB raised its stake in shares of Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares during the period. Howard Capital Management Group LLC raised its position in Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after buying an additional 610 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after acquiring an additional 411,210 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Visa by 14.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 36,905 shares of the credit-card processor’s stock worth $10,147,000 after acquiring an additional 4,726 shares during the last quarter. Finally, Algert Global LLC bought a new position in shares of Visa during the 3rd quarter worth approximately $1,778,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Bank of America raised their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Raymond James reissued an “outperform” rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Trading Down 0.9 %

Shares of Visa stock opened at $336.51 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50-day moving average of $340.48 and a 200-day moving average of $313.29. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The stock has a market cap of $625.15 billion, a PE ratio of 33.92, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.70%. Visa’s dividend payout ratio is presently 23.79%.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is owned by corporate insiders.

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.