Visa Inc. (NYSE:V) Shares Acquired by GM Advisory Group LLC

by · The Markets Daily

GM Advisory Group LLC raised its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,087 shares of the credit-card processor’s stock after purchasing an additional 903 shares during the quarter. GM Advisory Group LLC’s holdings in Visa were worth $3,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Peterson Financial Group Inc. bought a new stake in Visa during the third quarter valued at $26,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC raised its stake in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its holdings in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

V opened at $310.23 on Friday. The stock has a fifty day moving average price of $289.07 and a 200 day moving average price of $277.08. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1 year low of $251.61 and a 1 year high of $312.44. The stock has a market cap of $565.32 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.09 and a beta of 0.95.

Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. Analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays increased their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Susquehanna increased their price objective on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen raised their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Read Our Latest Stock Report on Visa

Visa Company 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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