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

Global Assets Advisory LLC bought a new position in Visa Inc. (NYSE:V) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,164 shares of the credit-card processor’s stock, valued at approximately $1,156,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC increased 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 buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in Visa during the second quarter valued at about $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the 2nd quarter worth approximately $35,000. Finally, Abich Financial Wealth Management LLC boosted its stake in 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 purchasing an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. Oppenheimer initiated coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective on the stock. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Bank of America increased their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Visa Stock Performance

Shares of NYSE:V opened at $283.22 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $517.99 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The firm’s 50 day simple moving average is $278.40 and its 200-day simple moving average is $273.10. Visa Inc. has a one year low of $228.03 and a one year high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the business posted $2.16 EPS. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 9.92 EPS for the current year.

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.