Cornerstone Select Advisors LLC Purchases Shares of 2,838 Visa Inc. (NYSE:V)

Cornerstone Select Advisors LLC acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,838 shares of the credit-card processor's stock, valued at approximately $897,000.

Other large investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new position in Visa in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC raised its position in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after buying an additional 32 shares during the last quarter. Compass Planning Associates Inc bought a new position in Visa during the 4th quarter valued at $32,000. Finally, NewSquare Capital LLC purchased a new position in Visa during the 4th quarter worth $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Wells Fargo & Company upped their price objective on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $362.38.

Insiders Place Their Bets

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares of the company's stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,208 shares of company stock valued at $48,905,978 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Visa stock opened at $348.28 on Wednesday. The business has a 50-day simple moving average of $337.42 and a 200 day simple moving average of $325.63. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market cap of $647.02 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's dividend payout ratio is 23.72%.

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.

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