Glassy Mountain Advisors Inc. Purchases 2,207 Shares of Visa Inc. (NYSE:V)

Glassy Mountain Advisors Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,579 shares of the credit-card processor’s stock after acquiring an additional 2,207 shares during the period. Visa accounts for 2.5% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 16th biggest holding. Glassy Mountain Advisors Inc.’s holdings in Visa were worth $7,033,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC grew its position 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 purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

Shares of Visa stock opened at $290.74 on Monday. The company has a market capitalization of $529.82 billion, a P/E ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The stock has a fifty day simple moving average of $281.00 and a 200 day simple moving average of $273.66. Visa Inc. has a 12-month low of $239.20 and a 12-month high of $296.34. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced 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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. Visa’s dividend payout ratio is 21.38%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Jefferies Financial Group upped their target price on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. TD Cowen raised their price objective 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. Oppenheimer reiterated an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

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.