W.H. Cornerstone Investments Inc. Has $2.22 Million Stake in Visa Inc. $V

W.H. Cornerstone Investments Inc. lifted its holdings in Visa Inc. (NYSE:V) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,244 shares of the credit-card processor’s stock after buying an additional 279 shares during the period. Visa comprises approximately 1.4% of W.H. Cornerstone Investments Inc.’s portfolio, making the stock its 17th biggest position. W.H. Cornerstone Investments Inc.’s holdings in Visa were worth $2,217,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in shares of Visa in the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. acquired a new position in Visa in the 2nd quarter valued at approximately $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the period. Finally, Hoese & Co LLP purchased a new stake in Visa in the 2nd quarter worth approximately $36,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. Macquarie lowered 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. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,897 shares of company stock valued at $8,164,561. Insiders own 0.13% of the company’s stock.

Visa Stock Down 0.9%

Shares of V stock opened at $335.76 on Friday. The stock’s 50 day simple moving average is $342.43 and its 200 day simple moving average is $348.69. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $615.37 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.05 and a beta of 0.87.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

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.