Visa Inc. (NYSE:V) Position Lowered by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lowered its position in Visa Inc. (NYSE:V - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,925 shares of the credit-card processor's stock after selling 7,540 shares during the quarter. Visa makes up approximately 4.6% of Cornerstone Investment Partners LLC's portfolio, making the stock its 3rd biggest position. Cornerstone Investment Partners LLC's holdings in Visa were worth $95,299,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Visa during the fourth quarter valued at approximately $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the fourth quarter valued at approximately $47,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 2.3%

V traded down $8.17 during trading on Friday, reaching $347.71. The stock had a trading volume of 7,577,927 shares, compared to its average volume of 6,821,741. The stock's 50 day moving average is $356.93 and its two-hundred day moving average is $342.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.41 and a beta of 0.92. Visa Inc. has a one year low of $252.70 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.51 earnings per share. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's payout ratio is presently 23.72%.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Macquarie dropped their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group upped their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Five investment 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

Visa 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.