Cornerstone Enterprises LLC Sells 8,593 Shares of Visa Inc. $V

Cornerstone Enterprises LLC trimmed its stake in Visa Inc. (NYSE:V) by 71.5% in the fourth quarter, Holdings Channel reports. The firm owned 3,421 shares of the credit-card processor’s stock after selling 8,593 shares during the quarter. Visa comprises approximately 0.6% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 22nd biggest position. Cornerstone Enterprises LLC’s holdings in Visa were worth $1,200,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Define Financial LLC grew its stake in Visa by 4.0% in the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after purchasing an additional 30 shares in the last quarter. Patron Partners LLC grew its stake in Visa by 0.6% in the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock valued at $1,587,000 after purchasing an additional 30 shares in the last quarter. MTM Investment Management LLC grew its stake in Visa by 0.9% in the third quarter. MTM Investment Management LLC now owns 3,344 shares of the credit-card processor’s stock valued at $1,142,000 after purchasing an additional 30 shares in the last quarter. High Note Wealth LLC grew its stake in Visa by 6.8% in the third quarter. High Note Wealth LLC now owns 474 shares of the credit-card processor’s stock valued at $162,000 after purchasing an additional 30 shares in the last quarter. Finally, Beacon Capital Management LLC grew its holdings in Visa by 2.0% during the third quarter. Beacon Capital Management LLC now owns 1,541 shares of the credit-card processor’s stock worth $526,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on V. Bank of America began coverage on Visa in a report on Thursday, March 5th. They set a “buy” rating and a $410.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $411.00 price target (up from $398.00) on shares of Visa in a report on Friday, January 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $395.00 target price on shares of Visa in a research note on Friday, January 30th. Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Finally, Truist Financial decreased their target price on Visa from $372.00 to $361.00 and set a “buy” rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Buy” and an average price target of $387.79.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director directly owned 2,679 shares in the company, valued at $829,471.98. The trade was a 19.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.12% of the stock is owned by company insiders.

Visa Stock Up 0.3%

V stock opened at $309.66 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $562.09 billion, a PE ratio of 29.05, a PEG ratio of 1.77 and a beta of 0.80. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $375.51. The business’s 50 day simple moving average is $309.88 and its 200 day simple moving average is $328.00.

Visa (NYSE:V) last posted its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.75 EPS. As a group, research analysts anticipate that Visa Inc. will post 12.84 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s payout ratio is presently 25.14%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.