CoreCap Advisors LLC Sells 6,939 Shares of Visa Inc. (NYSE:V)

CoreCap Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V – Get Rating) by 66.9% in the 4th quarter, Holdings Channel reports. The fund owned 3,429 shares of the credit-card processor’s stock after selling 6,939 shares during the quarter. CoreCap Advisors LLC’s holdings in Visa were worth $712,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Auxano Advisors LLC grew its position in Visa by 0.3% in the fourth quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock worth $2,951,000 after acquiring an additional 45 shares during the period. Domani Wealth LLC boosted its position in shares of Visa by 2.7% during the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock worth $359,000 after buying an additional 46 shares during the period. Pitti Group Wealth Management LLC boosted its position in shares of Visa by 1.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 3,802 shares of the credit-card processor’s stock worth $790,000 after buying an additional 46 shares during the period. S.C. Financial Services Inc. boosted its position in shares of Visa by 2.3% during the fourth quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock worth $445,000 after buying an additional 49 shares during the period. Finally, Greenwood Capital Associates LLC boosted its position in shares of Visa by 3.1% during the fourth quarter. Greenwood Capital Associates LLC now owns 1,645 shares of the credit-card processor’s stock worth $342,000 after buying an additional 49 shares during the period. Institutional investors own 81.87% of the company’s stock.

Insider Buying and Selling

In other Visa news, CFO Vasant M. Prabhu sold 13,343 shares of Visa stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $234.26, for a total value of $3,125,731.18. Following the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,250,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Visa news, CFO Vasant M. Prabhu sold 13,343 shares of Visa stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $234.26, for a total value of $3,125,731.18. Following the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,250,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at approximately $17,036,887.68. The disclosure for this sale can be found here. Insiders have sold a total of 187,671 shares of company stock valued at $42,943,080 over the last quarter. 0.21% of the stock is currently owned by insiders.

Visa Stock Down 2.9 %

V opened at $224.58 on Wednesday. The business’s 50-day simple moving average is $227.91 and its 200-day simple moving average is $220.62. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Visa Inc. has a one year low of $174.60 and a one year high of $235.57. The stock has a market capitalization of $420.71 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.79 billion. During the same quarter in the previous year, the firm earned $1.79 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 8.58 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 12th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, May 11th. Visa’s dividend payout ratio is currently 24.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Raymond James raised their price target on Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. Citigroup raised their price target on Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. StockNews.com started coverage on Visa in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Barclays increased their price objective on Visa from $270.00 to $272.00 in a research note on Monday, May 1st. Finally, KeyCorp increased their price objective on Visa from $250.00 to $260.00 in a research note on Monday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $260.08.

About Visa

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).