Richard P Slaughter Associates Inc Buys 619 Shares of Visa Inc. $V
by Danessa Lincoln · The Markets DailyRichard P Slaughter Associates Inc increased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 16.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,397 shares of the credit-card processor’s stock after acquiring an additional 619 shares during the period. Richard P Slaughter Associates Inc’s holdings in Visa were worth $1,561,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Yeomans Consulting Group Inc. raised its holdings in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its stake in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares during the period. Headinvest LLC raised its stake in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after buying an additional 30 shares during the period. Kennebec Savings Bank raised its stake in Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock valued at $1,182,000 after buying an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC raised its stake in Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor’s stock valued at $1,345,000 after buying an additional 30 shares during the period. Institutional investors own 82.15% of the company’s stock.
Visa Stock Down 1.2%
Shares of Visa stock opened at $339.33 on Monday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50-day moving average is $347.03 and its 200 day moving average is $346.86. The firm has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.26 and a beta of 0.92.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.
Insider Activity at Visa
In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Wall Street Analysts Forecast Growth
V has been the topic of several research reports. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.
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.
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