Cornerstone Advisors LLC Boosts Stake in Visa Inc. (NYSE:V)

Cornerstone Advisors LLC lifted its holdings in Visa Inc. (NYSE:V) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,600 shares of the credit-card processor’s stock after buying an additional 2,700 shares during the period. Visa makes up approximately 1.0% of Cornerstone Advisors LLC’s portfolio, making the stock its 20th biggest holding. Cornerstone Advisors LLC’s holdings in Visa were worth $24,636,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Unionview LLC increased its stake in shares of Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the last quarter. FWG Holdings LLC lifted its position in shares of Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares during the last quarter. St. Louis Trust Co grew its stake in shares of Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after acquiring an additional 34 shares during the period. KMG Fiduciary Partners LLC increased its holdings in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares during the last quarter. Finally, Iron Horse Wealth Management LLC raised its stake in Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of NYSE:V opened at $307.39 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $288.57 and a 200-day moving average price of $276.84. The company has a market cap of $560.16 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. Visa Inc. has a 12 month low of $250.03 and a 12 month high of $312.44.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the business posted $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

V has been the subject of several recent research reports. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird boosted their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.