Global Assets Advisory LLC Sells 1,660 Shares of Visa Inc. (NYSE:V)

Global Assets Advisory LLC trimmed its stake in Visa Inc. (NYSE:V) by 39.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,504 shares of the credit-card processor’s stock after selling 1,660 shares during the quarter. Global Assets Advisory LLC’s holdings in Visa were worth $787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. Riverstone Advisors LLC bought a new position in Visa during the fourth quarter worth about $217,000. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $306,000. Aptus Capital Advisors LLC lifted its position in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares during the last quarter. Journey Strategic Wealth LLC increased its holdings in shares of Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares during the last quarter. Finally, King Wealth Management Group raised its stake in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after acquiring an additional 6,172 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group raised their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. StockNews.com cut Visa from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, Macquarie lowered their target price on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Visa Stock Up 0.5 %

V stock opened at $352.95 on Friday. The firm has a 50-day moving average price of $336.98 and a 200-day moving average price of $326.72. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $655.70 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.51 EPS. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s dividend payout ratio is currently 23.72%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $185,576.46. The trade was a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.