Cornerstone Advisors LLC Raises Position in Visa Inc. $V

Cornerstone Advisors LLC lifted its stake in Visa Inc. (NYSE:V) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,500 shares of the credit-card processor’s stock after purchasing an additional 3,900 shares during the quarter. Visa comprises 1.1% of Cornerstone Advisors LLC’s portfolio, making the stock its 16th biggest holding. Cornerstone Advisors LLC’s holdings in Visa were worth $33,197,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after purchasing an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on V shares. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Stock Performance

Shares of Visa stock opened at $329.89 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $342.16 and its 200-day moving average price is $348.69. The firm has a market cap of $604.63 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.00 and a beta of 0.87. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

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

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is 26.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,897 shares of company stock valued at $8,164,561 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.