Correct Capital Wealth Management Purchases 1,997 Shares of Visa Inc. (NYSE:V)

Correct Capital Wealth Management grew its position in Visa Inc. (NYSE:V - Free Report) by 49.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,072 shares of the credit-card processor's stock after purchasing an additional 1,997 shares during the period. Visa makes up approximately 0.3% of Correct Capital Wealth Management's investment portfolio, making the stock its 28th largest holding. Correct Capital Wealth Management's holdings in Visa were worth $2,128,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter valued at about $27,000. Sellwood Investment Partners LLC bought a new stake in Visa during the fourth quarter worth about $41,000. Mountain Hill Investment Partners Corp. bought a new stake in Visa during the fourth quarter worth about $47,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the fourth quarter worth about $47,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa during the first quarter worth about $54,000. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group upped their target price on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred 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 owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Visa stock opened at $347.71 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The stock's 50 day moving average is $356.93 and its 200-day moving average is $342.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Visa 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.

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