Cornerstone Planning Group LLC Buys 39 Shares of Visa Inc. (NYSE:V)

Cornerstone Planning Group LLC boosted its position in Visa Inc. (NYSE:V) by 8.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 495 shares of the credit-card processor’s stock after purchasing an additional 39 shares during the period. Cornerstone Planning Group LLC’s holdings in Visa were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa in the third quarter worth $31,000. TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa during the 2nd quarter worth about $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Citigroup boosted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Finally, Oppenheimer reiterated 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, October 30th. Four research 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 company. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

NYSE:V opened at $310.39 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $245.34 and a fifty-two week high of $312.44. The firm has a market cap of $565.63 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The business has a 50 day moving average price of $285.26 and a 200-day moving average price of $275.17.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 EPS. Equities research analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared 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 a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is presently 21.38%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.