Global Assets Advisory LLC Takes $1.16 Million Position in Visa Inc. (NYSE:V)

Global Assets Advisory LLC purchased a new position in Visa Inc. (NYSE:V) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,164 shares of the credit-card processor’s stock, valued at approximately $1,156,000.

A number of other large investors have also added to or reduced their stakes in the stock. POM Investment Strategies LLC raised its stake in 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 acquiring an additional 97 shares during the period. TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in Visa during the second quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $283.22 on Friday. The firm has a fifty day simple moving average of $278.40 and a two-hundred day simple moving average of $273.10. The firm has a market cap of $517.99 billion, a PE ratio of 31.64, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on V. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group decreased their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets lifted their target price on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, TD Cowen decreased their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Company 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.