Global Assets Advisory LLC Acquires Shares of 601,128 Visa Inc. (NYSE:V)

Global Assets Advisory LLC acquired a new stake in shares of Visa Inc. (NYSE:V) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 601,128 shares of the credit-card processor’s stock, valued at approximately $167,763,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Visa in the 4th quarter valued at about $3,895,015,000. International Assets Investment Management LLC lifted its holdings in shares of Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after acquiring an additional 4,710,188 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after acquiring an additional 1,489,856 shares during the last quarter. Capital World Investors lifted its holdings in shares of Visa by 8.0% in the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after acquiring an additional 1,323,238 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Visa by 139.4% in the 4th quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock valued at $568,885,000 after acquiring an additional 1,272,211 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Robert W. Baird increased their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Wedbush increased their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Royal Bank of Canada increased their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler assumed coverage on shares of Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $303.76.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V opened at $276.17 on Tuesday. The company has a market cap of $505.10 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. Visa Inc. has a twelve month low of $226.02 and a twelve month high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average of $274.07 and a two-hundred day moving average of $273.29.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. As a group, analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is currently 23.24%.

About Visa

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.