Garden State Investment Advisory Services LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Garden State Investment Advisory Services LLC cut its holdings in Visa Inc. (NYSE:V) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,517 shares of the credit-card processor’s stock after selling 72 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Visa were worth $798,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Riverstone Advisors LLC bought a new stake in Visa in the fourth quarter worth $217,000. Journey Strategic Wealth LLC raised its stake in shares of Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after acquiring an additional 1,361 shares during the period. King Wealth Management Group lifted its holdings in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Visa during the 4th quarter worth about $10,163,000. Finally, Copley Financial Group Inc. bought a new position in Visa during the 3rd quarter valued at about $616,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V opened at $335.88 on Wednesday. The company has a 50 day moving average of $341.89 and a two-hundred day moving average of $319.63. The company has a market cap of $623.98 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s payout ratio is 23.79%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock worth $48,842,490 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Raymond James reissued an “outperform” rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $355.84.

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.