Visa Inc. $V Shares Sold by Glass Jacobson Investment Advisors llc

Glass Jacobson Investment Advisors llc lessened its position in Visa Inc. (NYSE:V) by 80.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 270 shares of the credit-card processor’s stock after selling 1,090 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Visa were worth $96,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Sage Mountain Advisors LLC increased its holdings in shares of Visa by 6.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 14,649 shares of the credit-card processor’s stock worth $5,201,000 after acquiring an additional 933 shares during the period. Lee Danner & Bass Inc. increased its holdings in shares of Visa by 1.0% in the 2nd quarter. Lee Danner & Bass Inc. now owns 64,900 shares of the credit-card processor’s stock worth $23,043,000 after acquiring an additional 625 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Visa by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,456,263 shares of the credit-card processor’s stock valued at $1,582,196,000 after buying an additional 32,269 shares in the last quarter. Moloney Securities Asset Management LLC grew its position in Visa by 0.7% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 15,111 shares of the credit-card processor’s stock valued at $5,365,000 after buying an additional 103 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC grew its position in Visa by 5.5% in the 2nd quarter. Jackson Hole Capital Partners LLC now owns 10,116 shares of the credit-card processor’s stock valued at $3,592,000 after buying an additional 528 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Macquarie increased their target price on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an “outperform” rating in a research report on Monday, October 6th. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $392.75.

Visa Stock Performance

Shares of V opened at $347.34 on Monday. The firm’s 50 day moving average is $344.79 and its 200-day moving average is $347.98. The stock has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% 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, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.