Park Place Capital Corp Purchases 1,824 Shares of Visa Inc. (NYSE:V)

Park Place Capital Corp grew its holdings in Visa Inc. (NYSE:V - Free Report) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,800 shares of the credit-card processor's stock after purchasing an additional 1,824 shares during the quarter. Visa comprises 1.1% of Park Place Capital Corp's portfolio, making the stock its 19th biggest holding. Park Place Capital Corp's holdings in Visa were worth $4,135,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC acquired a new position in Visa during the 4th quarter valued at $35,000. Sellwood Investment Partners LLC acquired a new position in shares of Visa during the fourth quarter valued at about $41,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Visa in the fourth quarter valued at about $47,000. Measured Risk Portfolios Inc. acquired a new stake in Visa during the fourth quarter worth about $47,000. Finally, Global X Japan Co. Ltd. bought a new position in Visa during the first quarter valued at about $56,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $349.13 on Friday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm has a 50 day moving average of $353.30 and a 200-day moving average of $340.01. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $644.20 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the firm posted $2.51 EPS. The business's revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,098 shares of company stock worth $36,738,526. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on V shares. Susquehanna reaffirmed a "positive" rating on shares of Visa in a report on Friday, March 21st. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target on the stock. Finally, Truist Financial began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

About Visa

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.