AlphaCore Capital LLC Buys 6,177 Shares of Visa Inc. $V

Key Points

• AlphaCore Capital LLC boosted its Visa stake by 21.1% in the fourth quarter, buying 6,177 additional shares and bringing its total holding to 35,519 shares valued at about $12.46 million.
• Visa reported strong quarterly results, with EPS of $3.31 and revenue of $11.23 billion, both topping analyst expectations; revenue rose 17.1% year over year.
• The company also authorized a $20 billion share buyback and declared a dividend of $0.67 per share, signaling continued capital returns to shareholders.

AlphaCore Capital LLC increased its holdings in Visa Inc. (NYSE:V - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,519 shares of the credit-card processor's stock after purchasing an additional 6,177 shares during the period. AlphaCore Capital LLC's holdings in Visa were worth $12,457,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock valued at $3,834,000 after acquiring an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its position in Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock valued at $402,000 after acquiring an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its position in Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock valued at $6,521,000 after acquiring an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 650 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company's stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,744 shares of company stock worth $14,356,010. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Loop Capital assumed coverage on Visa in a research report on Tuesday, March 31st. They issued a "buy" rating and a $387.00 price objective on the stock. Citigroup dropped their price target on Visa from $450.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Evercore set a $350.00 price target on Visa in a research report on Wednesday, April 29th. TD Cowen reissued a "buy" rating on shares of Visa in a research report on Friday, January 30th. Finally, Rothschild & Co Redburn set a $385.00 price target on Visa in a research report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Visa presently has an average rating of "Buy" and a consensus price target of $387.67.

Visa Price Performance

Shares of V stock opened at $325.42 on Friday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $375.51. The stock's 50-day moving average is $311.20 and its 200 day moving average is $325.89. The company has a market cap of $583.73 billion, a P/E ratio of 28.35, a PEG ratio of 1.72 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion during the quarter, compared to analysts' expectations of $10.75 billion. During the same period last year, the business posted $2.76 earnings per share. The firm's revenue was up 17.1% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa's dividend payout ratio (DPR) is 23.34%.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Trump said he urged China to open its credit card market more to Visa, raising hopes for future international growth if market access improves. Reuters related coverage
• Positive Sentiment: Visa is expanding digital identity and card activation tools, while also launching AI-powered fan intelligence capabilities, reinforcing its innovation and product-growth story. Visa Links Tap Identity And AI Fan Data To Its Growth Story
• Positive Sentiment: Recent commentary highlighted strong spending trends and digital payments adoption, which generally support transaction volume for Visa’s network. Credit Card Charges Show This Glaring Divergence With The Economy
• Neutral Sentiment: Visa CFO Chris Suh sold shares in a disclosed insider transaction, which may slightly pressure sentiment but does not change the company’s operating outlook. SEC Form 4 filing
• Negative Sentiment: Separate news about delays in U.S. green-card processing and Hungary’s visa-worker policy are mostly unrelated to Visa Inc.’s business and should have limited direct impact on the stock. US Delays Green Card Processing For Indians In Key Visa Categories

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.