Cornerstone Enterprises LLC Has $1.20 Million Position in Visa Inc. $V

Key Points

• Cornerstone Enterprises LLC cut its Visa stake by 71.5% in Q4, selling 8,593 shares and leaving it with 3,421 shares worth about $1.20 million, making Visa its 22nd largest holding.
• Visa beat Q4 estimates with EPS of $3.17 (vs. $3.14 est.) and revenue of $10.90 billion (+14.6% YoY); the company trades near $309.66, has a market cap of about $562.1 billion, and pays a $0.67 quarterly dividend (0.9% yield).
• Analysts remain broadly positive with a consensus "Buy" rating and an average price target of $387.79, implying notable upside from current prices.

Cornerstone Enterprises LLC lowered its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 71.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,421 shares of the credit-card processor's stock after selling 8,593 shares during the quarter. Visa accounts for about 0.6% of Cornerstone Enterprises LLC's portfolio, making the stock its 22nd biggest position. Cornerstone Enterprises LLC's holdings in Visa were worth $1,200,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. AGP Franklin LLC raised its position in shares of Visa by 2.7% during the fourth quarter. AGP Franklin LLC now owns 9,475 shares of the credit-card processor's stock worth $3,323,000 after purchasing an additional 252 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Visa by 0.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 21,586 shares of the credit-card processor's stock worth $7,570,000 after purchasing an additional 105 shares during the period. Diversified Enterprises LLC raised its position in shares of Visa by 39.9% during the fourth quarter. Diversified Enterprises LLC now owns 12,071 shares of the credit-card processor's stock worth $4,233,000 after purchasing an additional 3,444 shares during the period. Kerusso Capital Management LLC raised its position in shares of Visa by 31.4% during the fourth quarter. Kerusso Capital Management LLC now owns 12,938 shares of the credit-card processor's stock worth $4,537,000 after purchasing an additional 3,093 shares during the period. Finally, Mountain Capital Investment Advisors Inc. raised its position in shares of Visa by 1.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 5,068 shares of the credit-card processor's stock worth $1,653,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Up 0.3%

NYSE:V opened at $309.66 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $562.09 billion, a PE ratio of 29.05, a PEG ratio of 1.77 and a beta of 0.80. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $375.51. The stock has a 50-day simple moving average of $309.88 and a 200 day simple moving average of $328.00.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa's quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the company earned $2.75 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 12.84 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa's dividend payout ratio (DPR) is presently 25.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Daiwa Securities Group raised Visa from a "neutral" rating to an "outperform" rating and set a $370.00 price target on the stock in a research report on Monday, February 2nd. BMO Capital Markets assumed coverage on Visa in a research report on Tuesday. They set an "outperform" rating and a $365.00 price target on the stock. UBS Group dropped their price target on Visa from $425.00 to $390.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. Piper Sandler set a $160.00 price target on Visa in a research report on Wednesday, January 28th. Finally, Rothschild & Co Redburn set a $385.00 price target on Visa in a research report on Wednesday, January 28th. Seven analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $387.79.

Insider Activity

In related news, Director Lloyd Carney sold 650 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.12% of the company's stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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