Visa Inc. (NYSE:V) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its stake in Visa Inc. (NYSE:V) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,321 shares of the credit-card processor’s stock after acquiring an additional 3,936 shares during the period. Visa accounts for about 0.9% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 24th biggest holding. Cornerstone Wealth Group LLC’s holdings in Visa were worth $10,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of V. Norges Bank acquired a new stake in Visa in the fourth quarter worth approximately $3,895,015,000. International Assets Investment Management LLC lifted its position in Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the period. Capital World Investors lifted its position in Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Finally, Capital Research Global Investors lifted its position in Visa by 139.4% in the fourth quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock worth $568,885,000 after purchasing an additional 1,272,211 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Wells Fargo & Company upped their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Oppenheimer boosted their target price on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Redburn Atlantic reissued a “neutral” rating and set a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Stock Down 1.5 %

NYSE:V traded down $4.12 during trading hours on Friday, reaching $262.47. The company’s stock had a trading volume of 13,957,270 shares, compared to its average volume of 8,762,266. The company has a market cap of $480.04 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.80 and a beta of 0.97. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The business’s 50-day moving average is $273.88 and its 200-day moving average is $273.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $2.09 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock worth $9,559,382 over the last ninety days. Company insiders own 0.19% of the company’s stock.

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.