GM Advisory Group LLC Has $3.32 Million Position in Visa Inc. (NYSE:V)

GM Advisory Group LLC raised its holdings in Visa Inc. (NYSE:V) by 8.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,087 shares of the credit-card processor’s stock after purchasing an additional 903 shares during the period. GM Advisory Group LLC’s holdings in Visa were worth $3,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in V. WFA Asset Management Corp raised its stake in Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares in the last quarter. Guardian Capital LP increased its position in shares of Visa by 5.8% during the 1st quarter. Guardian Capital LP now owns 2,691 shares of the credit-card processor’s stock worth $751,000 after purchasing an additional 147 shares in the last quarter. Magnetar Financial LLC bought a new position in Visa during the 1st quarter valued at about $3,609,000. Steel Grove Capital Advisors LLC boosted its position in Visa by 12.8% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,289 shares of the credit-card processor’s stock valued at $918,000 after buying an additional 372 shares in the last quarter. Finally, Tremblant Capital Group grew its stake in Visa by 122.7% during the first quarter. Tremblant Capital Group now owns 4,612 shares of the credit-card processor’s stock worth $1,287,000 after buying an additional 2,541 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $310.23 on Friday. The stock has a market cap of $565.32 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The stock has a 50-day moving average of $289.07 and a 200-day moving average of $277.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a one year low of $251.61 and a one year high of $312.44.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Buying and Selling

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 directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on V shares. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Susquehanna lifted their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $321.74.

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.