Cobblestone Capital Advisors LLC NY Has $40.20 Million Position in Visa Inc. (NYSE:V)

Key Points

• Cobblestone Capital Advisors LLC NY increased its stake in Visa Inc. by 1.0%, owning approximately $40.20 million in the company, which constitutes about 2.2% of their total portfolio.
• Insider trading saw CEO Ryan Mcinerney selling 8,630 shares for over $3 million, representing a significant decrease in his holdings, while other insiders also decreased their positions.
• Visa reported strong quarterly earnings with an EPS of $2.98, exceeding the consensus estimate, and announced a quarterly dividend of $0.59, which reflects a dividend yield of 0.7%.

Cobblestone Capital Advisors LLC NY increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 114,706 shares of the credit-card processor's stock after purchasing an additional 1,143 shares during the quarter. Visa makes up approximately 2.2% of Cobblestone Capital Advisors LLC NY's portfolio, making the stock its 12th largest position. Cobblestone Capital Advisors LLC NY's holdings in Visa were worth $40,200,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in Visa in the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. bought a new position in Visa in the 4th quarter worth $47,000. Navigoe LLC bought a new position in Visa in the 4th quarter worth $53,000. O Brien Wealth Partners LLC bought a new position in Visa in the 1st quarter worth $54,000. Finally, Global X Japan Co. Ltd. bought a new position in Visa in the 1st quarter worth $56,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,100 shares of company stock worth $27,643,224 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 1.4%

Shares of Visa stock opened at $336.86 on Friday. The firm has a market capitalization of $621.56 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company's fifty day moving average price is $352.79 and its two-hundred day moving average price is $347.13. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average price target of $380.84.

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.

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