SLT Holdings LLC Purchases 293 Shares of Visa Inc. $V

SLT Holdings LLC grew its position in shares of Visa Inc. (NYSE:V) by 38.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,058 shares of the credit-card processor’s stock after buying an additional 293 shares during the quarter. SLT Holdings LLC’s holdings in Visa were worth $376,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new position in shares of Visa during the first quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the first quarter worth approximately $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the second quarter worth approximately $28,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa during the first quarter worth approximately $38,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 1.5%

Shares of NYSE:V opened at $348.39 on Wednesday. Visa Inc. has a 52 week low of $278.35 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $638.53 billion, a PE ratio of 34.02, a PEG ratio of 2.03 and a beta of 0.90. The company has a 50 day moving average price of $344.01 and a two-hundred day moving average price of $346.98.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. 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 research reports. Robert W. Baird set a $410.00 target price on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Barclays restated an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Company 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.