Core Wealth Partners LLC Has $1.01 Million Stock Holdings in Visa Inc. (NYSE:V)

Core Wealth Partners LLC increased its stake in shares of Visa Inc. (NYSE:V) by 11.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,610 shares of the credit-card processor’s stock after purchasing an additional 384 shares during the quarter. Visa makes up about 0.8% of Core Wealth Partners LLC’s portfolio, making the stock its 29th largest holding. Core Wealth Partners LLC’s holdings in Visa were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in V. Westend Capital Management LLC acquired a new position in Visa in the 1st quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the 4th quarter valued at approximately $32,000. Frank Rimerman Advisors LLC acquired a new position in Visa in the 4th quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Visa in the 4th quarter valued at approximately $37,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V traded up $0.76 during trading hours on Thursday, hitting $268.99. The company’s stock had a trading volume of 5,017,760 shares, compared to its average volume of 9,395,944. The company has a market cap of $491.97 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The business has a 50 day simple moving average of $273.45 and a two-hundred day simple moving average of $273.65. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s payout ratio is presently 23.24%.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Piper Sandler initiated coverage on shares of Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. UBS Group increased their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird increased their target price on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

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.