Visa Inc. (NYSE:V) is Griffin Asset Management Inc.’s 10th Largest Position

Griffin Asset Management Inc. increased its stake in Visa Inc. (NYSE:V) by 8.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 50,236 shares of the credit-card processor’s stock after buying an additional 3,978 shares during the quarter. Visa accounts for approximately 1.7% of Griffin Asset Management Inc.’s portfolio, making the stock its 10th largest holding. Griffin Asset Management Inc.’s holdings in Visa were worth $14,020,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after purchasing an additional 596,950 shares during the last quarter. Capital World Investors lifted its stake in shares of Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after buying an additional 1,323,238 shares in the last quarter. Norges Bank bought a new position in Visa in the 4th quarter worth approximately $3,895,015,000. Ameriprise Financial Inc. grew its stake in Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by insiders.

Visa Stock Down 1.5 %

Shares of Visa stock traded down $4.12 during midday trading on Friday, hitting $262.47. The company had a trading volume of 13,957,270 shares, compared to its average volume of 8,762,266. The company has a 50 day moving average of $273.88 and a 200 day moving average of $273.41. The stock has a market capitalization of $480.04 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.82 and a beta of 0.97. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $2.09 EPS. On average, equities analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.79%. Visa’s payout ratio is 23.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on V. Piper Sandler began coverage on shares of Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Finally, Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

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.