Cornerstone Planning LLC Takes Position in Visa Inc. $V

Cornerstone Planning LLC acquired a new position in shares of Visa Inc. (NYSE:VFree Report) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 10,682 shares of the credit-card processor’s stock, valued at approximately $3,688,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after buying an additional 1,054,343 shares during the last quarter. State Street Corp boosted its position in shares of Visa by 0.8% during the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after acquiring an additional 626,821 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Visa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock valued at $15,411,395,000 after acquiring an additional 388,996 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Visa by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock valued at $14,411,480,000 after acquiring an additional 716,218 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after acquiring an additional 193,288 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets started coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price target on the stock. Citigroup cut their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Oppenheimer restated an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Finally, Loop Capital started coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price for the company. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $387.78.

Read Our Latest Analysis on V

More Visa News

Here are the key news stories impacting Visa this week:

Visa Stock Up 0.1%

Shares of NYSE V opened at $327.67 on Monday. The business has a 50-day moving average price of $321.23 and a 200 day moving average price of $324.20. The stock has a market cap of $587.76 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the previous year, the company posted $2.76 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is 23.34%.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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