SlateStone Wealth LLC Buys 297 Shares of Visa Inc (NYSE:V)
SlateStone Wealth LLC grew its stake in shares of Visa Inc (NYSE:V) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,923 shares of the credit-card processor’s stock after acquiring an additional 297 shares during the quarter. Visa comprises about 1.8% of SlateStone Wealth LLC’s investment portfolio, making the stock its 11th biggest position. SlateStone Wealth LLC’s holdings in Visa were worth $7,689,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC lifted its position in shares of Visa by 2.3% during the 4th quarter. Lenox Wealth Advisors LLC now owns 5,701 shares of the credit-card processor’s stock worth $1,071,000 after buying an additional 128 shares during the last quarter. Principle Wealth Partners LLC lifted its position in shares of Visa by 28.9% during the 3rd quarter. Principle Wealth Partners LLC now owns 35,430 shares of the credit-card processor’s stock worth $6,094,000 after buying an additional 7,954 shares during the last quarter. Pure Financial Advisors Inc. bought a new stake in shares of Visa during the 4th quarter worth $200,000. Central Bank & Trust Co. lifted its position in shares of Visa by 0.5% during the 3rd quarter. Central Bank & Trust Co. now owns 55,570 shares of the credit-card processor’s stock worth $9,559,000 after buying an additional 270 shares during the last quarter. Finally, West Branch Capital LLC lifted its position in shares of Visa by 108.5% during the 4th quarter. West Branch Capital LLC now owns 17,838 shares of the credit-card processor’s stock worth $3,352,000 after buying an additional 9,282 shares during the last quarter. Hedge funds and other institutional investors own 81.39% of the company’s stock.
Several analysts recently weighed in on V shares. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday. KeyCorp upped their price objective on Visa from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley restated a “buy” rating and set a $240.00 price objective on shares of Visa in a research report on Sunday, February 2nd. Wells Fargo & Co upped their price objective on Visa from $213.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Macquarie started coverage on Visa in a research report on Tuesday, January 21st. They set an “outperform” rating and a $250.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $217.62.
Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $1.46 EPS for the quarter, meeting the consensus estimate of $1.46. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.08 billion. Visa had a return on equity of 43.15% and a net margin of 52.60%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. Research analysts anticipate that Visa Inc will post 6.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.30 dividend. This is a boost from Visa’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.57%. Visa’s dividend payout ratio is presently 22.06%.
In other news, EVP William M. Sheedy sold 3,110 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $182.52, for a total value of $567,637.20. Following the completion of the sale, the executive vice president now owns 227,740 shares of the company’s stock, valued at $41,567,104.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $183.72, for a total value of $1,286,040.00. Following the completion of the sale, the chief executive officer now directly owns 84,788 shares of the company’s stock, valued at approximately $15,577,251.36. The disclosure for this sale can be found here. In the last three months, insiders sold 37,316 shares of company stock valued at $7,007,434. Insiders own 0.19% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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