Visa Inc. (NYSE:V) Stock Position Lifted by Slagle Financial LLC

Slagle Financial LLC lifted its position in shares of Visa Inc. (NYSE:V) by 93.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,276 shares of the credit-card processor’s stock after acquiring an additional 4,959 shares during the quarter. Slagle Financial LLC’s holdings in Visa were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of V. CCM Investment Advisers LLC lifted its stake in Visa by 2.2% in the fourth quarter. CCM Investment Advisers LLC now owns 59,578 shares of the credit-card processor’s stock valued at $15,511,000 after buying an additional 1,306 shares during the last quarter. PBCay One RSC Ltd acquired a new stake in shares of Visa in the fourth quarter valued at approximately $6,589,000. Congress Asset Management Co. MA raised its holdings in shares of Visa by 0.3% during the fourth quarter. Congress Asset Management Co. MA now owns 571,173 shares of the credit-card processor’s stock valued at $148,705,000 after buying an additional 1,899 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Visa during the fourth quarter worth approximately $1,199,000. Finally, Fortis Group Advisors LLC grew its holdings in Visa by 1.9% in the 4th quarter. Fortis Group Advisors LLC now owns 25,138 shares of the credit-card processor’s stock worth $6,545,000 after buying an additional 471 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE V traded down $0.53 during trading hours on Friday, hitting $270.66. 8,537,260 shares of the stock were exchanged, compared to its average volume of 5,425,052. Visa Inc. has a one year low of $221.37 and a one year high of $290.96. The company’s 50 day moving average is $274.17 and its 200 day moving average is $272.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $495.02 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.85 and a beta of 0.97.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. On average, research analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on V shares. Macquarie lifted their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler initiated coverage on Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price on the stock. Wedbush upped their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. UBS Group boosted their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Wells Fargo & Company upped their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.76.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,402 shares of company stock valued at $9,559,382. Insiders own 0.19% of the company’s stock.

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.