Core Wealth Partners LLC Acquires 634 Shares of Visa Inc. (NYSE:V)

Core Wealth Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,741 shares of the credit-card processor’s stock after buying an additional 634 shares during the quarter. Core Wealth Partners LLC’s holdings in Visa were worth $1,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Jag Capital Management LLC raised its holdings in shares of Visa by 0.8% in the 3rd quarter. Jag Capital Management LLC now owns 15,100 shares of the credit-card processor’s stock valued at $4,152,000 after purchasing an additional 127 shares during the period. Addison Advisors LLC raised its holdings in Visa by 1.6% in the 3rd quarter. Addison Advisors LLC now owns 2,612 shares of the credit-card processor’s stock valued at $718,000 after acquiring an additional 42 shares during the period. United Capital Management of KS Inc. raised its holdings in Visa by 3.4% in the 3rd quarter. United Capital Management of KS Inc. now owns 23,454 shares of the credit-card processor’s stock valued at $6,449,000 after acquiring an additional 782 shares during the period. GDS Wealth Management raised its holdings in Visa by 9.8% in the 3rd quarter. GDS Wealth Management now owns 42,444 shares of the credit-card processor’s stock valued at $11,670,000 after acquiring an additional 3,771 shares during the period. Finally, Chartwell Investment Partners LLC raised its holdings in Visa by 2.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 25,141 shares of the credit-card processor’s stock valued at $6,913,000 after acquiring an additional 677 shares during the period. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

V has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Oppenheimer restated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Macquarie increased their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $310.98 on Tuesday. Visa Inc. has a twelve month low of $244.11 and a twelve month high of $312.44. The firm has a fifty day simple moving average of $283.95 and a 200 day simple moving average of $274.67. The company has a market capitalization of $566.70 billion, a PE ratio of 31.96, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

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

Visa Increases Dividend

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

About Visa

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.