Cornerstone Wealth Management LLC Sells 324 Shares of Visa Inc. (NYSE:V)

Cornerstone Wealth Management LLC lessened its position in Visa Inc. (NYSE:V) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,519 shares of the credit-card processor’s stock after selling 324 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Visa were worth $3,167,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Westend Capital Management LLC acquired a new position in shares of Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC raised its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa during the 2nd quarter worth approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % 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. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of V opened at $287.51 on Thursday. The business has a 50-day moving average of $275.69 and a 200-day moving average of $272.74. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The company has a market capitalization of $525.83 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on V shares. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Finally, Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.81.

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.