Grimes & Company Inc. Cuts Stock Position in Visa Inc. (NYSE:V)

Grimes & Company Inc. lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,593 shares of the credit-card processor's stock after selling 3,369 shares during the period. Grimes & Company Inc.'s holdings in Visa were worth $18,432,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in V. Capital & Planning LLC increased its stake in Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after acquiring an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC bought a new position in Visa in the 4th quarter worth about $424,000. Brighton Jones LLC increased its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Visa in the 4th quarter worth about $202,074,000. Finally, Revolve Wealth Partners LLC increased its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.7%

Shares of V stock opened at $355.23 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock's 50 day simple moving average is $350.71 and its two-hundred day simple moving average is $338.05. The company has a market cap of $655.46 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the business posted $2.51 earnings per share. The company's revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on V shares. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Citigroup started coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Finally, Evercore ISI started coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the firm'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 completion of the sale, the insider now directly owns 26,413 shares of the company's stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,448 shares of company stock worth $50,133,659 in the last ninety days. 0.13% of the stock is owned by company insiders.

Visa Company 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.

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