SlateStone Wealth LLC Boosts Position in Visa Inc. (NYSE:V)

SlateStone Wealth LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,828 shares of the credit-card processor’s stock after buying an additional 526 shares during the quarter. Visa accounts for about 0.9% of SlateStone Wealth LLC’s portfolio, making the stock its 27th largest holding. SlateStone Wealth LLC’s holdings in Visa were worth $7,245,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of V. Trifecta Capital Advisors LLC grew its stake in Visa by 2.7% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after acquiring an additional 536 shares during the period. SG Americas Securities LLC boosted its stake in Visa by 549.8% during the 3rd quarter. SG Americas Securities LLC now owns 19,950 shares of the credit-card processor’s stock worth $4,589,000 after purchasing an additional 16,880 shares during the last quarter. Key Bridge Compliance LLC acquired a new stake in Visa during the 3rd quarter worth $241,000. Sunflower Bank N.A. boosted its stake in Visa by 4.2% during the 3rd quarter. Sunflower Bank N.A. now owns 3,102 shares of the credit-card processor’s stock worth $713,000 after purchasing an additional 124 shares during the last quarter. Finally, Eastover Investment Advisors LLC boosted its stake in Visa by 2.8% during the 3rd quarter. Eastover Investment Advisors LLC now owns 5,555 shares of the credit-card processor’s stock worth $1,278,000 after purchasing an additional 153 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE V opened at $281.72 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The stock has a 50 day moving average of $279.49 and a two-hundred day moving average of $263.90. The stock has a market cap of $517.38 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.88 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio is currently 23.94%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho reiterated a “neutral” rating and set a $265.00 price target on shares of Visa in a report on Wednesday, March 27th. Barclays boosted their price objective on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Raymond James boosted their price objective on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, TD Cowen initiated coverage on shares of Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $301.35.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock worth $5,256,352 over the last 90 days. 0.19% of the stock is currently owned by insiders.

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.