Garden State Investment Advisory Services LLC Has $733,000 Position in Visa Inc. (NYSE:V)

Garden State Investment Advisory Services LLC grew its holdings in Visa Inc. (NYSE:V) by 8.3% during the third quarter, Holdings Channel reports. The firm owned 2,657 shares of the credit-card processor’s stock after acquiring an additional 203 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Visa were worth $733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC grew its holdings in Visa by 1.8% in the third quarter. Chevy Chase Trust Holdings LLC now owns 1,513,706 shares of the credit-card processor’s stock worth $416,194,000 after purchasing an additional 26,700 shares during the period. Cladis Investment Advisory LLC bought a new position in shares of Visa during the 3rd quarter worth about $205,000. Coastwise Capital Group LLC grew its stake in shares of Visa by 23.8% in the 3rd quarter. Coastwise Capital Group LLC now owns 2,260 shares of the credit-card processor’s stock valued at $621,000 after buying an additional 435 shares during the period. Community Bank N.A. increased its position in Visa by 2.7% in the 3rd quarter. Community Bank N.A. now owns 13,653 shares of the credit-card processor’s stock valued at $3,754,000 after buying an additional 363 shares in the last quarter. Finally, Arvin Capital Management LP acquired a new position in Visa during the 3rd quarter worth approximately $6,643,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Visa Stock Up 0.3 %

V opened at $315.90 on Monday. The company’s 50-day moving average price is $292.09 and its two-hundred day moving average price is $278.55. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $252.14 and a twelve month high of $316.37. The stock has a market cap of $588.48 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.12 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. As a group, equities 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 issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 24.25%.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna boosted their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. TD Cowen upped their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Company Profile

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.