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

Cornerstone Wealth Management LLC increased its position in Visa Inc. (NYSE:V) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,784 shares of the credit-card processor’s stock after buying an additional 525 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Visa were worth $4,480,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $27,000. Compass Planning Associates Inc purchased a new position in Visa in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. raised its holdings in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after buying an additional 83 shares during the period. NewSquare Capital LLC purchased a new stake in Visa during the fourth quarter valued at about $35,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Visa in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,377,671.52. This represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last quarter. 0.13% of the stock is owned by corporate insiders.

Visa Stock Up 0.7%

V opened at $357.89 on Wednesday. The company has a market capitalization of $660.37 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average price is $351.22 and its two-hundred day moving average price is $338.19. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on V. Citigroup started coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating for the company. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Truist Financial initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

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.