Visa Inc. $V Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its position in Visa Inc. (NYSE:V) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,421 shares of the credit-card processor’s stock after purchasing an additional 2,372 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Visa were worth $9,739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Visa in the 4th quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. lifted its stake in Visa by 867.6% during the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after acquiring an additional 7,364,762 shares during the period. J. Stern & Co. LLP lifted its stake in Visa by 12,497.1% during the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after acquiring an additional 3,351,223 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Visa by 48.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after acquiring an additional 2,116,463 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Loop Capital started coverage on Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Six analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $387.78.

Insider Buying and Selling at Visa

In other Visa 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 completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Visa 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 transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by company insiders.

Visa Trading Up 0.2%

Visa stock opened at $336.96 on Monday. The firm has a market cap of $604.43 billion, a PE ratio of 29.35, a P/E/G ratio of 1.80 and a beta of 0.77. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The stock’s 50 day simple moving average is $323.36 and its two-hundred day simple moving average is $324.29. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 EPS. Analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

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

Visa declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Visa Company Profile

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.