Cornerstone Select Advisors LLC Boosts Stake in Visa Inc. $V

by · The Markets Daily

Cornerstone Select Advisors LLC increased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 24.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,519 shares of the credit-card processor’s stock after purchasing an additional 681 shares during the period. Cornerstone Select Advisors LLC’s holdings in Visa were worth $1,233,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. Nuveen LLC purchased a new position in Visa in the 1st quarter valued at approximately $3,518,533,000. Northern Trust Corp boosted its position in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Visa in the 4th quarter valued at approximately $673,689,000. Finally, Kovitz Investment Group Partners LLC boosted its position in Visa by 295.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor’s stock valued at $746,550,000 after buying an additional 1,764,781 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating for the company. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $380.84.

Get Our Latest Stock Report on Visa

Visa Trading Down 0.3%

NYSE V opened at $344.44 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $631.29 billion, a PE ratio of 33.64, a P/E/G ratio of 2.29 and a beta of 0.94. Visa Inc. has a one year low of $265.23 and a one year high of $375.51. The firm’s fifty day moving average is $350.17 and its two-hundred day moving average is $347.44.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 earnings per share. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is currently owned by company insiders.

Visa Profile

(Free Report)

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.

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