GM Advisory Group LLC Lowers Stock Holdings in Visa Inc. (NYSE:V)

GM Advisory Group LLC lessened its holdings in Visa Inc. (NYSE:V) by 0.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,184 shares of the credit-card processor’s stock after selling 103 shares during the period. GM Advisory Group LLC’s holdings in Visa were worth $2,935,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Alaethes Wealth LLC increased its holdings in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares in the last quarter. Jessup Wealth Management Inc grew its position in shares of Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares during the period. Long Run Wealth Advisors LLC increased its stake in shares of Visa by 2.5% in the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its position in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V opened at $285.25 on Friday. The stock has a 50-day simple moving average of $270.27 and a 200-day simple moving average of $273.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The stock has a market capitalization of $519.81 billion, a PE ratio of 31.87, a PEG ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates 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 company posted $2.16 earnings per share. On average, analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

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 shares were sold at an average price of $276.37, for a total transaction 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. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada cut their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.22.

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.