Grandview Asset Management LLC Reduces Stake in Visa Inc. (NYSE:V)

Grandview Asset Management LLC reduced its holdings in shares of Visa Inc. (NYSE:VGet Rating) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,373 shares of the credit-card processor’s stock after selling 233 shares during the quarter. Grandview Asset Management LLC’s holdings in Visa were worth $1,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Visa during the 4th quarter valued at about $2,740,577,000. Wellington Management Group LLP lifted its holdings in Visa by 33.1% during the first quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor’s stock valued at $4,928,211,000 after purchasing an additional 5,527,427 shares in the last quarter. Lone Pine Capital LLC purchased a new position in shares of Visa in the fourth quarter worth $1,047,495,000. GQG Partners LLC increased its position in Visa by 46.2% in the fourth quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor’s stock worth $2,446,122,000 after purchasing an additional 3,567,771 shares during the last quarter. Finally, Invesco Ltd. increased its position in Visa by 40.0% in the first quarter. Invesco Ltd. now owns 9,910,380 shares of the credit-card processor’s stock worth $2,197,824,000 after purchasing an additional 2,830,580 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 1.1 %

Shares of NYSE:V opened at $193.30 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $365.42 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. The firm’s 50-day moving average is $207.53 and its two-hundred day moving average is $207.32. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $236.96.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s payout ratio is 22.12%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial cut their target price on shares of Visa from $275.00 to $250.00 in a research report on Thursday, June 30th. Daiwa Capital Markets lowered shares of Visa from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $225.00 in a research report on Tuesday, August 16th. UBS Group lifted their target price on shares of Visa from $292.00 to $296.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Susquehanna cut their target price on shares of Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Finally, Wolfe Research cut their price target on shares of Visa from $285.00 to $260.00 in a report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $257.64.

Insider Buying and Selling

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the sale, the chief executive officer now directly owns 156,887 shares in the company, valued at $33,277,301.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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