Visa Inc. (NYSE:V) Shares Sold by Grassi Investment Management

Grassi Investment Management lowered its stake in shares of Visa Inc. (NYSE:V) by 0.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 100,958 shares of the credit-card processor’s stock after selling 124 shares during the quarter. Visa accounts for about 2.4% of Grassi Investment Management’s investment portfolio, making the stock its 8th largest holding. Grassi Investment Management’s holdings in Visa were worth $27,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hilltop National Bank bought a new stake in shares of Visa during the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC acquired a new position in Visa during the first quarter valued at approximately $404,000. Davidson Capital Management Inc. boosted its holdings in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares in the last quarter. Empirical Finance LLC increased its stake in shares of Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital increased its stake in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $283.22 on Friday. The firm has a 50 day moving average of $278.40 and a 200-day moving average of $273.10. The company has a market cap of $517.99 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the company posted $2.16 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

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.