Park Avenue Securities LLC Buys 7,258 Shares of Visa Inc. (NYSE:V)


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Park Avenue Securities LLC increased its position in shares of Visa Inc. (NYSE:V) by 16.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 52,190 shares of the credit-card processor’s stock after purchasing an additional 7,258 shares during the quarter. Park Avenue Securities LLC’s holdings in Visa were worth $11,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. OLD Mission Capital LLC acquired a new stake in shares of Visa in the third quarter valued at approximately $373,000. Sei Investments Co. raised its position in shares of Visa by 2.0% in the 3rd quarter. Sei Investments Co. now owns 1,273,515 shares of the credit-card processor’s stock valued at $254,640,000 after buying an additional 24,593 shares in the last quarter. Park National Corp OH raised its position in Visa by 5.5% during the fourth quarter. Park National Corp OH now owns 155,929 shares of the credit-card processor’s stock valued at $34,107,000 after purchasing an additional 8,137 shares in the last quarter. Red Spruce Capital LLC lifted its stake in Visa by 5.8% during the fourth quarter. Red Spruce Capital LLC now owns 3,377 shares of the credit-card processor’s stock worth $739,000 after purchasing an additional 184 shares during the last quarter. Finally, Thomasville National Bank increased its stake in shares of Visa by 0.5% in the 4th quarter. Thomasville National Bank now owns 88,318 shares of the credit-card processor’s stock valued at $19,318,000 after purchasing an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.

V has been the topic of a number of research analyst reports. Susquehanna Bancshares raised their target price on shares of Visa from $250.00 to $265.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. KeyCorp upped their price objective on shares of Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, January 13th. Morgan Stanley raised their target price on Visa from $258.00 to $279.00 and gave the stock an “overweight” rating in a research note on Monday. Credit Suisse Group increased their target price on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 14th. Two investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Visa has a consensus rating of “Buy” and an average target price of $246.32.

Visa stock traded down $1.11 during trading hours on Tuesday, reaching $231.50. The stock had a trading volume of 27,899 shares, compared to its average volume of 9,462,850. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market cap of $451.96 billion, a price-to-earnings ratio of 47.67, a PEG ratio of 3.80 and a beta of 0.96. The business’s 50 day moving average price is $221.11 and its 200-day moving average price is $210.57. Visa Inc. has a 52 week low of $171.72 and a 52 week high of $237.50.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.12. The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.54 billion. Visa had a return on equity of 37.22% and a net margin of 49.74%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. On average, sell-side analysts forecast that Visa Inc. will post 5.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, May 13th. Visa’s payout ratio is 25.40%.

In other Visa news, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the sale, the president now directly owns 11,193 shares in the company, valued at $2,350,530. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction on Friday, April 30th. The shares were sold at an average price of $235.32, for a total value of $2,117,880.00. Following the completion of the sale, the chief executive officer now owns 160,112 shares in the company, valued at $37,677,555.84. The disclosure for this sale can be found here. Insiders sold 133,843 shares of company stock valued at $29,838,958 over the last quarter. Company insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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