Visa Inc. (NYSE:V) Stake Reduced by Cornerstone Capital Inc.

Cornerstone Capital Inc. lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,333 shares of the credit-card processor's stock after selling 11,940 shares during the period. Visa comprises approximately 4.6% of Cornerstone Capital Inc.'s portfolio, making the stock its 4th biggest position. Cornerstone Capital Inc.'s holdings in Visa were worth $43,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter valued at $27,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Modus Advisors LLC bought a new position in Visa during the fourth quarter valued at about $32,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Visa during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Up 1.1 %

Visa stock traded up $3.62 during mid-day trading on Wednesday, reaching $335.02. The stock had a trading volume of 2,552,187 shares, compared to its average volume of 7,199,036. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock's 50-day simple moving average is $339.57 and its 200-day simple moving average is $321.41. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The firm has a market capitalization of $622.39 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.70%. Visa's payout ratio is 23.79%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Oppenheimer reissued an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Piper Sandler reiterated an "overweight" rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Barclays raised their target price on Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and an average price target of $355.84.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Peter M. Andreski sold 2,332 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company's stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,205 shares of company stock valued at $48,842,490. Corporate insiders own 0.13% of the company's stock.

About Visa

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.