Visa Inc. $V Shares Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 4.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 93,500 shares of the credit-card processor’s stock after purchasing an additional 3,900 shares during the quarter. Visa accounts for approximately 1.1% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Cornerstone Advisors LLC’s holdings in Visa were worth $33,197,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after buying an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after acquiring an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC acquired a new position in Visa during the second quarter worth $862,000. Iron Gate Global Advisors LLC lifted its holdings in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares in the last quarter. Finally, NatWest Group plc grew its position in shares of Visa by 43.8% in the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after purchasing an additional 13,912 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Down 1.8%

Shares of NYSE:V opened at $329.89 on Friday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock has a market cap of $604.63 billion, a P/E ratio of 32.31, a PEG ratio of 2.00 and a beta of 0.87. The business has a fifty day moving average of $342.16 and a two-hundred day moving average of $348.69. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the company posted $2.71 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Barclays restated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

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.