Corsicana & Co. Makes New $2.52 Million Investment in Visa Inc. $V

Corsicana & Co. acquired a new position in shares of Visa Inc. (NYSE:V) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,370 shares of the credit-card processor’s stock, valued at approximately $2,516,000. Visa makes up 1.4% of Corsicana & Co.’s holdings, making the stock its 21st largest position.

A number of other institutional investors also recently modified their holdings of V. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the second quarter worth $29,000. Sagard Holdings Management Inc. bought a new stake in shares of Visa during the second quarter worth $31,000. Bare Financial Services Inc increased its stake in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 66 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,042 shares of company stock valued at $8,175,152 in the last ninety days. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI set a $380.00 price objective on shares of Visa in a report on Friday, December 12th. Hsbc Global Res upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target on the stock in a research note on Thursday, December 11th. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Robert W. Baird set a $425.00 price objective on Visa in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $402.52.

Visa Stock Performance

V stock opened at $349.45 on Monday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market cap of $636.61 billion, a P/E ratio of 34.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.82. The business’s fifty day moving average is $337.48 and its 200-day moving average is $344.47.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.