Visa (V) Shares Sold by Cornerstone Advisors Inc.

Cornerstone Advisors Inc. cut its stake in Visa (NYSE:V) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 6,985 shares of the credit-card processor’s stock after selling 670 shares during the period. Visa accounts for about 0.5% of Cornerstone Advisors Inc.’s holdings, making the stock its 24th largest position. Cornerstone Advisors Inc.’s holdings in Visa were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after acquiring an additional 2,628,148 shares during the period. BlackRock Inc. lifted its stake in Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after acquiring an additional 1,440,034 shares during the period. Jennison Associates LLC lifted its stake in Visa by 1.0% in the third quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after acquiring an additional 209,764 shares during the period. Bank of New York Mellon Corp lifted its stake in Visa by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after acquiring an additional 1,624,700 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Visa by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 16,419,486 shares of the credit-card processor’s stock worth $1,872,150,000 after acquiring an additional 448,015 shares during the period. Hedge funds and other institutional investors own 81.47% of the company’s stock.

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Visa (NYSE V) opened at $117.00 on Monday. Visa has a fifty-two week low of $88.07 and a fifty-two week high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $241,082.84, a P/E ratio of 38.87, a P/E/G ratio of 1.54 and a beta of 0.99.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. analysts expect that Visa will post 4.38 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were paid a dividend of $0.21 per share. This is a boost from Visa’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 27.91%.

Visa announced that its board has initiated a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

V has been the subject of a number of research reports. Susquehanna Bancshares upped their price objective on shares of Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Wells Fargo reaffirmed an “outperform” rating and issued a $135.00 price objective (up from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Stephens reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Visa in a research note on Wednesday, January 10th. Cowen reissued a “buy” rating and set a $129.00 price target on shares of Visa in a research report on Friday, January 12th. Finally, Citigroup reissued a “buy” rating and set a $136.00 price target (up from $124.00) on shares of Visa in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $134.14.

In related news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

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Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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