Visa Inc. (NYSE:V) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. decreased its position in Visa Inc. (NYSE:V) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 158,335 shares of the credit-card processor’s stock after selling 2,952 shares during the period. Visa makes up 4.5% of Cornerstone Capital Inc.’s portfolio, making the stock its 3rd largest position. Cornerstone Capital Inc.’s holdings in Visa were worth $41,223,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in Visa in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the 4th quarter worth $32,000. Valued Wealth Advisors LLC acquired a new position in Visa in the 4th quarter worth $37,000. Life Planning Partners Inc acquired a new position in Visa in the 4th quarter worth $71,000. Finally, Macroview Investment Management LLC boosted its stake in Visa by 1,019.2% in the 3rd quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock worth $67,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold 19,874 shares of company stock worth $5,506,827 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Citigroup upped their target price on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush increased their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. Raymond James increased their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Mizuho restated a “neutral” rating and set a $265.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Finally, Evercore ISI increased their price objective on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Stock Performance

Shares of V traded down $0.64 during mid-day trading on Friday, hitting $274.52. 6,840,615 shares of the company’s stock were exchanged, compared to its average volume of 6,528,673. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The stock’s 50-day simple moving average is $279.24 and its 200-day simple moving average is $264.33. The firm has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $2.09 EPS. On average, equities research analysts expect that Visa Inc. will post 9.89 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.