Visa Inc. (NYSE:V) Shares Sold by Core Alternative Capital

Core Alternative Capital lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,097 shares of the credit-card processor's stock after selling 1,053 shares during the quarter. Visa makes up approximately 1.7% of Core Alternative Capital's holdings, making the stock its 19th biggest holding. Core Alternative Capital's holdings in Visa were worth $7,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Lakeridge Wealth Management LLC raised its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new position in Visa during the fourth quarter worth approximately $306,000. Aptus Capital Advisors LLC raised its stake in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group raised its stake in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares during the period. Finally, Eagle Strategies LLC raised its stake in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last ninety days. Corporate insiders own 0.13% of the company's stock.

Visa Stock Down 0.6%

V traded down $2.20 during trading hours on Thursday, reaching $355.56. 6,115,882 shares of the stock traded hands, compared to its average volume of 6,837,809. The company has a market cap of $656.07 billion, a price-to-earnings ratio of 35.74, a PEG ratio of 2.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm's fifty day simple moving average is $356.66 and its two-hundred day simple moving average is $342.11.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

A number of research firms have weighed in on V. UBS Group increased their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

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.