Coastal Bridge Advisors LLC boosted its holdings in Visa Inc. (NYSE:V) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,399 shares of the credit-card processor’s stock after purchasing an additional 292 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Visa were worth $327,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new position in shares of Visa during the third quarter valued at $373,000. Avidian Wealth Solutions LLC boosted its holdings in shares of Visa by 6.1% during the first quarter. Avidian Wealth Solutions LLC now owns 4,864 shares of the credit-card processor’s stock valued at $1,030,000 after acquiring an additional 280 shares during the period. Interchange Capital Partners LLC boosted its holdings in shares of Visa by 6.9% during the first quarter. Interchange Capital Partners LLC now owns 1,884 shares of the credit-card processor’s stock valued at $418,000 after acquiring an additional 121 shares during the period. Cadence Bank NA boosted its holdings in shares of Visa by 41.8% during the first quarter. Cadence Bank NA now owns 3,883 shares of the credit-card processor’s stock valued at $822,000 after acquiring an additional 1,145 shares during the period. Finally, Corbyn Investment Management Inc. MD raised its stake in shares of Visa by 0.4% during the first quarter. Corbyn Investment Management Inc. MD now owns 17,964 shares of the credit-card processor’s stock valued at $3,804,000 after purchasing an additional 65 shares in the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 30th. The stock was sold at an average price of $235.11, for a total value of $2,115,990.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rajat Taneja sold 42,336 shares of the business’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $240.00, for a total value of $10,160,640.00. The disclosure for this sale can be found here. In the last three months, insiders sold 84,813 shares of company stock valued at $20,342,613. 0.19% of the stock is currently owned by company insiders.
NYSE:V traded up $0.60 on Wednesday, hitting $223.63. 247,357 shares of the company’s stock traded hands, compared to its average volume of 8,228,104. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.61. Visa Inc. has a 1 year low of $179.23 and a 1 year high of $252.67. The firm has a 50-day moving average price of $236.44 and a 200-day moving average price of $229.52. The company has a market cap of $435.62 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98.
Visa (NYSE:V) last released its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.16. Visa had a return on equity of 35.45% and a net margin of 47.97%. The company had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter in the previous year, the business posted $1.07 EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 5.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.28 annualized dividend and a yield of 0.57%. Visa’s dividend payout ratio (DPR) is presently 25.40%.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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