Visa Inc. (NYSE:V) Shares Sold by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 31.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,972 shares of the credit-card processor’s stock after selling 12,373 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Visa were worth $8,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Decker Retirement Planning Inc. bought a new stake in Visa during the fourth quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in shares of Visa during the 3rd quarter valued at about $26,000. Modus Advisors LLC acquired a new stake in Visa during the fourth quarter worth about $32,000. Reston Wealth Management LLC bought a new position in Visa in the third quarter worth about $31,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Visa in the fourth quarter valued at approximately $44,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. TD Cowen raised their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley raised their target price on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Bank of America upped their price target on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer raised their price target on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $335.52.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Trading Up 0.6 %

Visa stock opened at $336.45 on Thursday. The firm has a market cap of $626.76 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $337.83. The firm’s 50 day moving average price is $315.85 and its two-hundred day moving average price is $291.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm posted $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

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.