Visa Inc. (NYSE:V) Shares Sold by W.H. Cornerstone Investments Inc.

by · The Markets Daily

W.H. Cornerstone Investments Inc. reduced its stake in Visa Inc. (NYSE:V – Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,249 shares of the credit-card processor’s stock after selling 153 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Visa were worth $1,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Visa in the third quarter valued at $31,000. 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 in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in Visa during the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the 2nd quarter worth about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.5 %

Visa stock opened at $293.36 on Wednesday. The stock has a market cap of $534.59 billion, a PE ratio of 30.15, a P/E/G ratio of 1.96 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $281.92 and a 200 day moving average price of $273.97. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $296.34.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.80%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Piper Sandler boosted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upped their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $321.74.

Read Our Latest Research Report on Visa

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

About Visa

(Free Report)

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.

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