Core Wealth Partners LLC Grows Holdings in Visa Inc. (NYSE:V)

Core Wealth Partners LLC increased its position in shares of Visa Inc. (NYSE:V) by 15.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,741 shares of the credit-card processor’s stock after purchasing an additional 634 shares during the quarter. Core Wealth Partners LLC’s holdings in Visa were worth $1,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arjuna Capital raised its position in Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the period. Custom Index Systems LLC bought a new stake in Visa during the 3rd quarter worth approximately $731,000. Mechanics Bank Trust Department increased its holdings in Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after acquiring an additional 2,410 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after acquiring an additional 16,078 shares during the period. Finally, Chicago Capital LLC increased its holdings in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 1.0 %

V opened at $310.98 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $283.95 and a 200-day moving average price of $274.67. Visa Inc. has a twelve month low of $244.11 and a twelve month high of $312.44. The stock has a market capitalization of $566.70 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the company earned $2.33 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on V. Susquehanna boosted their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.