Triton Wealth Management PLLC Takes $429,000 Position in Visa Inc. $V

Key Points

• Triton Wealth Management PLLC acquired a new position in Visa Inc., purchasing 1,211 shares valued at approximately $429,000 during the 2nd quarter.
• Visa reported $2.98 earnings per share for its most recent quarter, exceeding analyst estimates and demonstrating a considerable revenue increase of 14.3% compared to the previous year.
• The company announced a quarterly dividend of $0.59 per share, reflecting a modest dividend yield of 0.7% and a payout ratio of 23.05%.

Triton Wealth Management PLLC acquired a new stake in Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,211 shares of the credit-card processor's stock, valued at approximately $429,000.

Several other institutional investors have also modified their holdings of the stock. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the 2nd quarter worth about $28,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter valued at about $27,000. Cranbrook Wealth Management LLC lifted its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after buying an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC boosted its position in Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after buying an additional 49 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $341.90 on Friday. The company has a 50 day moving average price of $344.30 and a 200-day moving average price of $346.83. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The stock has a market capitalization of $626.63 billion, a PE ratio of 33.39, a PEG ratio of 2.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping 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 analysts' expectations of $9.82 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The company's revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

Several research firms have issued reports on V. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Barclays reissued an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer boosted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $389.00.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% 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.

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