Griffin Asset Management Inc. Has $15.52 Million Holdings in Visa Inc. $V

Griffin Asset Management Inc. lifted its position in shares of Visa Inc. (NYSE:VFree Report) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,333 shares of the credit-card processor’s stock after purchasing an additional 1,448 shares during the quarter. Visa accounts for 1.7% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding. Griffin Asset Management Inc.’s holdings in Visa were worth $15,515,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ransom Advisory Ltd raised its holdings in Visa by 0.3% during the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock worth $3,313,000 after buying an additional 30 shares during the last quarter. Bank OZK grew its holdings in shares of Visa by 3.7% during the third quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock valued at $293,000 after buying an additional 31 shares during the last quarter. FOCUS Wealth Advisors LLC increased its position in shares of Visa by 0.4% during the fourth quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock worth $2,704,000 after acquiring an additional 31 shares in the last quarter. Planned Solutions Inc. increased its position in shares of Visa by 2.0% during the fourth quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after acquiring an additional 31 shares in the last quarter. Finally, Frederick Financial Consultants LLC raised its holdings in shares of Visa by 2.0% in the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after acquiring an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.0%

Shares of NYSE:V opened at $347.57 on Friday. The company has a market capitalization of $623.46 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day moving average price of $330.52 and a two-hundred day moving average price of $324.88. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.02.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 EPS. Analysts forecast that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa declared that its board has authorized a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. UBS Group increased their price objective on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Barclays assumed coverage on Visa in a report on Tuesday. They issued an “overweight” rating and a $420.00 target price on the stock. Robert W. Baird set a $412.00 target price on Visa and gave the company an “outperform” rating in a research report on Monday. Finally, Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Six analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $397.91.

Get Our Latest Stock Report on Visa

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 75,581 shares of company stock valued at $25,627,975. Company insiders own 0.12% of the company’s stock.

Key Headlines Impacting Visa

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About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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