Cornerstone Wealth Group LLC Acquires 2,072 Shares of Visa Inc. (NYSE:V)

Cornerstone Wealth Group LLC grew its holdings in Visa Inc. (NYSE:V) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,393 shares of the credit-card processor’s stock after purchasing an additional 2,072 shares during the period. Visa comprises about 0.9% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 25th biggest holding. Cornerstone Wealth Group LLC’s holdings in Visa were worth $10,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Handelsbanken Fonder AB grew its holdings in shares of Visa by 7.0% in the fourth quarter. Handelsbanken Fonder AB now owns 567,038 shares of the credit-card processor’s stock worth $147,628,000 after acquiring an additional 37,125 shares during the period. Nikulski Financial Inc. grew its holdings in Visa by 0.9% during the fourth quarter. Nikulski Financial Inc. now owns 13,048 shares of the credit-card processor’s stock valued at $3,397,000 after purchasing an additional 120 shares during the period. Cetera Trust Company N.A bought a new stake in Visa during the fourth quarter valued at about $3,173,000. PSI Advisors LLC grew its holdings in Visa by 12.0% during the fourth quarter. PSI Advisors LLC now owns 569 shares of the credit-card processor’s stock valued at $148,000 after purchasing an additional 61 shares during the period. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in Visa by 1.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 337,492 shares of the credit-card processor’s stock valued at $87,866,000 after purchasing an additional 3,777 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.2 %

NYSE:V traded down $0.50 during midday trading on Friday, hitting $267.44. The stock had a trading volume of 3,620,730 shares, compared to its average volume of 7,178,205. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The company has a market capitalization of $489.13 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 1.89 and a beta of 0.95. The stock has a 50-day moving average of $265.99 and a 200 day moving average of $273.36. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is presently 23.24%.

Analysts Set New Price Targets

V has been the topic of several research analyst reports. Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group lowered their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Mizuho boosted their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

About Visa

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.