Granite Harbor Advisors Inc. Has $677,000 Stake in Visa Inc. (NYSE:V)

Granite Harbor Advisors Inc. grew its position in shares of Visa Inc. (NYSE:V) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,143 shares of the credit-card processor’s stock after buying an additional 33 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in Visa were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Custom Index Systems LLC bought a new position in Visa in the 3rd quarter worth approximately $731,000. Copley Financial Group Inc. bought a new stake in shares of Visa during the third quarter valued at approximately $616,000. Oak Ridge Investments LLC boosted its stake in Visa by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock valued at $23,847,000 after buying an additional 4,198 shares in the last quarter. FORA Capital LLC acquired a new stake in Visa in the 3rd quarter valued at $7,987,000. Finally, Chicago Capital LLC boosted its stake in Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna upped their price objective on Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday. Citigroup upped their price objective on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a report on Friday. Macquarie upped their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $352.27.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

V opened at $342.05 on Monday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $351.25. The stock has a market cap of $637.19 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.27 and a beta of 0.96. The business has a 50 day moving average of $317.74 and a 200-day moving average of $293.12. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. On average, equities research analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

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.