Park Place Capital Corp Sells 57 Shares of Visa Inc. (NYSE:V)

Park Place Capital Corp decreased its position in shares of Visa Inc. (NYSE:V) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,775 shares of the credit-card processor’s stock after selling 57 shares during the period. Visa comprises about 0.9% of Park Place Capital Corp’s holdings, making the stock its 25th largest holding. Park Place Capital Corp’s holdings in Visa were worth $2,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in V. Nadler Financial Group Inc. lifted its position in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares in the last quarter. Towerpoint Wealth LLC bought a new position in Visa in the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. bought a new position in Visa in the 4th quarter valued at approximately $3,427,000. Knights of Columbus Asset Advisors LLC lifted its position in Visa by 1.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock valued at $19,636,000 after acquiring an additional 795 shares in the last quarter. Finally, Cedrus LLC lifted its position in Visa by 10.1% in the 4th quarter. Cedrus LLC now owns 2,010 shares of the credit-card processor’s stock valued at $523,000 after acquiring an additional 184 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

V traded up $0.65 on Friday, reaching $266.58. The stock had a trading volume of 7,017,857 shares, compared to its average volume of 7,476,283. The company has a market cap of $487.56 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The business’s 50-day moving average price is $268.91 and its two-hundred day moving average price is $274.36. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. Visa’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Wedbush upped their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Oppenheimer increased their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Mizuho increased their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.