802 Shares in Visa Inc. $V Bought by Core Wealth Advisors Inc.

Key Points

• Core Wealth Advisors Inc. has invested approximately $281,000 in Visa Inc., purchasing 802 shares during the 1st quarter.
• Visa's CEO sold over 8,630 shares, significantly reducing his ownership by 94.14%, while company insiders collectively sold around $25 million in stock last quarter.
• Analysts remain positive on Visa's outlook with a consensus rating of "Moderate Buy" and a target price of $380.84, following the company’s strong quarterly earnings that exceeded expectations.

Core Wealth Advisors Inc. bought a new stake in Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 802 shares of the credit-card processor's stock, valued at approximately $281,000.

Other institutional investors also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter valued at about $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the fourth quarter worth about $47,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa during the first quarter worth about $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Visa during the 1st quarter valued at approximately $56,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Morgan Stanley increased their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $383.17.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $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 68,507 shares of company stock worth $25,213,475 over the last three months. 0.13% of the stock is owned by insiders.

Visa Trading Up 0.1%

Shares of NYSE:V traded up $0.28 during trading on Wednesday, reaching $350.35. The stock had a trading volume of 4,035,793 shares, compared to its average volume of 5,490,003. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $642.11 billion, a P/E ratio of 31.41, a PEG ratio of 2.34 and a beta of 0.92. The business has a fifty day moving average price of $348.47 and a 200-day moving average price of $347.36. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Visa Company 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.