AlphaCore Capital LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,819 shares of the credit-card processor's stock after selling 786 shares during the period. Visa comprises 1.1% of AlphaCore Capital LLC's holdings, making the stock its 17th biggest holding. AlphaCore Capital LLC's holdings in Visa were worth $5,000,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC bought a new position in Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Visa in the 4th quarter worth approximately $32,000. NewSquare Capital LLC purchased a new stake in shares of Visa in the 4th quarter worth approximately $35,000. Finally, FPC Investment Advisory Inc. lifted its position in shares of Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after purchasing an additional 83 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Insider Transactions at Visa
In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of Visa stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,377,671.52. This trade represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,948 shares of company stock valued at $41,548,282. Corporate insiders own 0.13% of the company's stock.
Analyst Ratings Changes
V has been the subject of several research reports. Citigroup reaffirmed a "neutral" rating on shares of Visa in a research report on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Barclays upped their price target on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $365.71.
Read Our Latest Research Report on Visa
Visa Stock Performance
V stock traded up $5.67 during midday trading on Tuesday, hitting $359.21. 6,312,180 shares of the stock traded hands, compared to its average volume of 7,023,621. The firm has a market cap of $662.80 billion, a P/E ratio of 36.21, a PEG ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock's fifty day simple moving average is $341.75 and its 200-day simple moving average is $332.43. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15.
Visa (NYSE:V - Get Free Report) last released its quarterly 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 net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.
Visa Company Profile
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Free Report)
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.
Further Reading
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