Great Valley Advisor Group Inc. Has $18.06 Million Stake in Visa Inc. $V

by · The Markets Daily

Great Valley Advisor Group Inc. decreased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,873 shares of the credit-card processor’s stock after selling 19,405 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Visa were worth $18,062,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its position in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after buying an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Visa in the 1st quarter valued at approximately $121,000. Finally, Lord Abbett & CO. LLC lifted its stake in Visa by 38.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 13,148 shares of the credit-card processor’s stock valued at $4,608,000 after purchasing an additional 3,661 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $347.83 on Friday. The company has a market capitalization of $633.65 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.05 and a beta of 0.82. The business has a 50 day moving average of $337.70 and a 200 day moving average of $345.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. On average, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is presently 26.25%.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and increased their target price for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $402.52.

Read Our Latest Stock Analysis on Visa

Visa Profile

(Free Report)

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.

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