Park Place Capital Corp Has $2.66 Million Stake in Visa Inc. (NYSE:V)

Park Place Capital Corp cut its position in shares of Visa Inc. (NYSE:V) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,655 shares of the credit-card processor’s stock after selling 1,120 shares during the quarter. Visa comprises about 0.8% of Park Place Capital Corp’s holdings, making the stock its 28th largest position. Park Place Capital Corp’s holdings in Visa were worth $2,655,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of V. Tealwood Asset Management Inc. acquired a new stake in Visa during the third quarter worth approximately $1,646,000. Traveka Wealth LLC increased its stake in shares of Visa by 3.4% in the 3rd quarter. Traveka Wealth LLC now owns 2,606 shares of the credit-card processor’s stock valued at $717,000 after acquiring an additional 85 shares in the last quarter. Legacy Private Trust Co. lifted its position in shares of Visa by 5.1% during the 3rd quarter. Legacy Private Trust Co. now owns 9,178 shares of the credit-card processor’s stock valued at $2,523,000 after acquiring an additional 449 shares during the period. Clean Yield Group boosted its stake in Visa by 25.3% during the third quarter. Clean Yield Group now owns 679 shares of the credit-card processor’s stock worth $187,000 after acquiring an additional 137 shares in the last quarter. Finally, Trium Capital LLP grew its holdings in Visa by 21.6% in the third quarter. Trium Capital LLP now owns 8,624 shares of the credit-card processor’s stock worth $2,371,000 after purchasing an additional 1,532 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Royal Bank of Canada reduced their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Finally, Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V traded up $1.66 during trading hours on Tuesday, hitting $275.45. The company’s stock had a trading volume of 970,764 shares, compared to its average volume of 7,154,918. The company has a market cap of $501.96 billion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day simple moving average of $273.24 and a two-hundred day simple moving average of $272.74. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. On average, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.