Glassy Mountain Advisors Inc. Buys New Shares in Visa Inc. (NYSE:V)

Glassy Mountain Advisors Inc. bought a new stake in Visa Inc. (NYSE:V – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,706 shares of the credit-card processor’s stock, valued at approximately $2,848,000. Visa comprises about 1.6% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in V. Copperleaf Capital LLC increased its stake in Visa by 0.6% during the second quarter. Copperleaf Capital LLC now owns 7,968 shares of the credit-card processor’s stock worth $1,569,000 after acquiring an additional 49 shares during the last quarter. CNB Bank increased its stake in Visa by 0.8% during the second quarter. CNB Bank now owns 6,338 shares of the credit-card processor’s stock worth $1,248,000 after acquiring an additional 49 shares during the last quarter. Solstein Capital LLC increased its stake in Visa by 0.4% during the second quarter. Solstein Capital LLC now owns 14,111 shares of the credit-card processor’s stock worth $2,778,000 after acquiring an additional 50 shares during the last quarter. Eads & Heald Wealth Management increased its stake in Visa by 0.4% during the third quarter. Eads & Heald Wealth Management now owns 12,641 shares of the credit-card processor’s stock worth $2,246,000 after acquiring an additional 50 shares during the last quarter. Finally, Tobias Financial Advisors Inc. increased its stake in Visa by 3.4% during the third quarter. Tobias Financial Advisors Inc. now owns 1,516 shares of the credit-card processor’s stock worth $269,000 after acquiring an additional 50 shares during the last quarter. 81.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at $53,367,191.04. The disclosure for this sale can be found here. Insiders sold a total of 191,312 shares of company stock valued at $33,751,165 over the last 90 days. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on V. StockNews.com lowered Visa from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial upped their price target on Visa from $235.00 to $260.00 in a research note on Friday, January 20th. Robert W. Baird upped their price target on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, January 19th. Credit Suisse Group increased their target price on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.

Visa Trading Down 0.0 %

NYSE:V opened at $217.39 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $223.62 and its two-hundred day moving average is $208.33. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $234.30. The company has a market cap of $408.91 billion, a PE ratio of 30.40, a P/E/G ratio of 1.70 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.17. The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the business posted $1.81 earnings per share. On average, analysts predict that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 9th. This is an increase from Visa’s previous quarterly dividend of $0.40. Visa’s payout ratio is currently 25.17%.

About Visa

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).