Park Place Capital Corp Acquires 321 Shares of Visa Inc. (NYSE:V)

Park Place Capital Corp raised its holdings in Visa Inc. (NYSE:V) by 3.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,976 shares of the credit-card processor’s stock after acquiring an additional 321 shares during the quarter. Visa makes up 0.9% of Park Place Capital Corp’s holdings, making the stock its 26th largest holding. Park Place Capital Corp’s holdings in Visa were worth $3,153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. SG Americas Securities LLC raised its stake in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares in the last quarter. State Street Corp boosted its position in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC increased its holdings in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $330.20 on Friday. The firm has a fifty day moving average of $314.54 and a 200 day moving average of $289.98. Visa Inc. has a one year low of $252.70 and a one year high of $331.09. The firm has a market cap of $615.11 billion, a PE ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company posted $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Barclays raised their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Oppenheimer upped their price objective on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Piper Sandler lifted their target price on shares of Visa from $322.00 to $368.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Susquehanna upped their price target on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $334.58.

Visa 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.