Visa Inc. $V Position Lifted by AlphaCore Capital LLC

Key Points

• AlphaCore Capital increased its Visa stake by 9.6% in the third quarter, bringing its holdings to 38,608 shares valued at about $13.9 million. Institutional investors collectively own 82.15% of Visa’s stock.
• Visa beat quarterly earnings and revenue expectations, reporting EPS of $3.48 and revenue of $12.14 billion; revenue rose 13.2% year over year.
• Visa raised its quarterly dividend from $0.67 to $0.78 per share, an annualized dividend of $3.12 and a 0.7% yield. Analysts’ consensus rating was “Buy,” with an average price target of $440.82.

AlphaCore Capital LLC lifted its position in Visa Inc. (NYSE:V - Free Report) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,608 shares of the credit-card processor's stock after buying an additional 3,372 shares during the period. AlphaCore Capital LLC's holdings in Visa were worth $13,873,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. XXEC Inc. lifted its stake in Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor's stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares in the last quarter. State Street Corp grew its stake in shares of Visa by 0.7% during the 2nd quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor's stock worth $28,432,626,000 after acquiring an additional 566,194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Visa by 13.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor's stock worth $5,393,398,000 after acquiring an additional 1,808,496 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Visa by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor's stock valued at $2,672,655,000 after purchasing an additional 316,559 shares during the last quarter. Finally, Amundi raised its holdings in shares of Visa by 16.5% in the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor's stock valued at $2,646,911,000 after purchasing an additional 1,092,315 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

V opened at $422.46 on Tuesday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $442.23. The stock has a market cap of $753.84 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.86 and a beta of 0.80. The business has a 50 day moving average of $386.67 and a 200-day moving average of $345.18. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping the consensus estimate of $3.44 by $0.04. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.98 EPS. On average, equities research analysts expect that Visa Inc. will post 15.02 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Visa's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, November 10th. Visa's dividend payout ratio (DPR) is presently 21.74%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the transaction, the chief executive officer directly owned 15,174 shares of the company's stock, valued at $5,582,059.38. This represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. This represents a 9.93% 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 quarter, insiders sold 27,395 shares of company stock worth $10,406,050. Corporate insiders own 0.12% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on V. Wells Fargo & Company boosted their price objective on shares of Visa from $432.00 to $463.00 and gave the stock an "overweight" rating in a research report on Thursday, October 29th. Clear Str upgraded Visa to a "strong-buy" rating in a report on Thursday, July 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $466.00 target price on shares of Visa in a research report on Wednesday, October 28th. Morgan Stanley reissued an "overweight" rating and set a $471.00 price target (up from $416.00) on shares of Visa in a research report on Wednesday, October 28th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $500.00 price objective (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company's stock. Based on data from MarketBeat, Visa has an average rating of "Buy" and a consensus price target of $440.82.

Visa Profile

Visa Inc operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online.

The company's services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.

Visa traces its roots to BankAmericard, a bank card program launched in California in 1958.

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