Cornerstone Wealth Group LLC Increases Holdings in Visa Inc. (NYSE:V)

Cornerstone Wealth Group LLC increased its holdings in Visa Inc. (NYSE:V) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,345 shares of the credit-card processor’s stock after acquiring an additional 952 shares during the quarter. Visa makes up about 0.9% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 27th largest position. Cornerstone Wealth Group LLC’s holdings in Visa were worth $10,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Valley Investment Advisors Inc. ADV lifted its holdings in Visa by 14.9% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 39,586 shares of the credit-card processor’s stock worth $10,884,000 after buying an additional 5,138 shares during the period. Tandem Capital Management Corp ADV lifted its stake in shares of Visa by 17.2% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 2,672 shares of the credit-card processor’s stock worth $735,000 after purchasing an additional 392 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in Visa by 145.3% during the third quarter. JFS Wealth Advisors LLC now owns 5,341 shares of the credit-card processor’s stock valued at $1,469,000 after purchasing an additional 3,164 shares in the last quarter. Sunburst Financial Group LLC grew its stake in Visa by 5.3% in the third quarter. Sunburst Financial Group LLC now owns 2,557 shares of the credit-card processor’s stock valued at $703,000 after purchasing an additional 128 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in Visa by 6.2% in the third quarter. Diversify Wealth Management LLC now owns 14,745 shares of the credit-card processor’s stock worth $4,184,000 after purchasing an additional 862 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna raised their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $320.07.

Visa Trading Down 0.1 %

Shares of NYSE:V opened at $289.89 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $232.99 and a 12-month high of $296.34. The business has a 50 day moving average of $280.53 and a two-hundred day moving average of $273.50. The company has a market capitalization of $528.27 billion, a PE ratio of 29.79, a PEG ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. As a group, analysts forecast that Visa Inc. will post 11.12 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value 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 approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% 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.