Cornerstone Wealth Group LLC Purchases 1,098 Shares of Visa Inc. $V

Key Points

• Cornerstone Wealth Group LLC increased its stake in Visa Inc. by 4.2%, acquiring an additional 1,098 shares, bringing its total holdings to 27,506 shares valued at approximately $9.77 million.
• Insider activity included CEO Ryan Mcinerney selling 10,485 shares for about $3.59 million, significantly reducing his ownership in the company.
• Analysts have varied price targets for Visa, with Macquarie raising its target from $380 to $425 and Truist Financial decreasing it from $400 to $397, reflecting differing outlooks on the stock's performance.

Cornerstone Wealth Group LLC boosted its position in Visa Inc. (NYSE:V - Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,506 shares of the credit-card processor's stock after purchasing an additional 1,098 shares during the period. Cornerstone Wealth Group LLC's holdings in Visa were worth $9,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in V. Yeomans Consulting Group Inc. lifted its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC lifted its position in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the last quarter. BankPlus Wealth Management LLC lifted its holdings in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after buying an additional 29 shares in the last quarter. Transcendent Capital Group LLC lifted its holdings in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC lifted its holdings in Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after buying an additional 30 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Robert W. Baird set a $410.00 target price on Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $389.00.

Visa Trading Up 1.9%

V opened at $341.90 on Friday. The firm has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.99 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The stock has a fifty day moving average price of $344.30 and a 200-day moving average price of $346.83.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. As a group, equities research analysts anticipate 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 was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is 23.05%.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.