Cora Capital Advisors LLC Has $923,000 Stock Holdings in Visa Inc. (NYSE:V)

Cora Capital Advisors LLC lowered its position in shares of Visa Inc. (NYSE:V) by 21.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,546 shares of the credit-card processor’s stock after selling 972 shares during the quarter. Cora Capital Advisors LLC’s holdings in Visa were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after purchasing an additional 4,710,188 shares during the period. FMR LLC increased its position in shares of Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Visa in the 3rd quarter valued at about $358,349,000. The Manufacturers Life Insurance Company lifted its holdings in Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock valued at $903,955,000 after purchasing an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Visa by 28.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after buying an additional 871,439 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

V traded down $0.64 during midday trading on Friday, reaching $274.52. The company had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The company has a market cap of $504.16 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The business has a 50-day moving average of $279.24 and a two-hundred day moving average of $264.73. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. As a group, equities research analysts predict that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 stock was 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 $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup increased their target price on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp lifted their target price on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods raised their price objective on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Raymond James upped their target price on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

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.