Grandfield & Dodd LLC Sells 50 Shares of Visa Inc. (NYSE:V)

Grandfield & Dodd LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,435 shares of the credit-card processor’s stock after selling 50 shares during the period. Grandfield & Dodd LLC’s holdings in Visa were worth $944,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter worth $26,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa in the third quarter worth about $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price objective on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Mizuho upped their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Down 0.1 %

Shares of Visa stock opened at $311.85 on Wednesday. The firm has a market cap of $568.29 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.07 and a beta of 0.95. The stock’s 50-day moving average is $288.10 and its 200 day moving average is $276.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a one year low of $245.60 and a one year high of $312.44.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. Equities research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is 24.25%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

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.