GraniteShares Advisors LLC Sells 379 Shares of Visa Inc. (NYSE:V)

GraniteShares Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 6.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,865 shares of the credit-card processor’s stock after selling 379 shares during the period. GraniteShares Advisors LLC’s holdings in Visa were worth $1,393,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC grew its stake in shares of Visa by 46.5% during the second quarter. Beverly Hills Private Wealth LLC now owns 1,515 shares of the credit-card processor’s stock valued at $362,000 after buying an additional 481 shares during the last quarter. Financial Architects Inc grew its stake in shares of Visa by 0.4% during the second quarter. Financial Architects Inc now owns 15,222 shares of the credit-card processor’s stock valued at $3,615,000 after buying an additional 66 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Visa by 15.6% during the second quarter. AlphaCore Capital LLC now owns 12,695 shares of the credit-card processor’s stock valued at $3,015,000 after buying an additional 1,712 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Visa in the second quarter valued at approximately $200,000. Finally, Burney Co. boosted its holdings in shares of Visa by 2.8% in the second quarter. Burney Co. now owns 52,237 shares of the credit-card processor’s stock valued at $12,405,000 after purchasing an additional 1,430 shares during the period. 81.35% of the stock is owned by institutional investors.

Visa Price Performance

NYSE V opened at $247.00 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49. The stock’s fifty day moving average price is $238.32 and its 200 day moving average price is $235.83. Visa Inc. has a 1 year low of $202.13 and a 1 year high of $250.06. The company has a market cap of $459.87 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.63 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.10. The company had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.56 billion. Visa had a return on equity of 50.13% and a net margin of 52.90%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $1.93 EPS. As a group, equities research analysts forecast that Visa Inc. will post 9.9 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be given a dividend of $0.52 per share. This is an increase from Visa’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 0.84%. The ex-dividend date is Wednesday, November 8th. Visa’s dividend payout ratio (DPR) is currently 25.09%.

Insider Activity

In related news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the transaction, the chairman now directly owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the transaction, the chairman now directly owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $240.00, for a total transaction of $1,956,000.00. The disclosure for this sale can be found here. Insiders have sold 72,100 shares of company stock worth $17,368,639 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho boosted their price target on Visa from $240.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Oppenheimer boosted their price target on Visa from $248.00 to $252.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. JPMorgan Chase & Co. lowered their price target on Visa from $296.00 to $293.00 and set an “overweight” rating for the company in a report on Monday, October 9th. Raymond James boosted their price target on Visa from $284.00 to $287.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. Finally, Credit Suisse Group upped their target price on Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $275.67.

Visa Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.