W.H. Cornerstone Investments Inc. Purchases 2,106 Shares of Visa Inc. (NYSE:V)

Key Points

• W.H. Cornerstone Investments Inc. increased its stake in Visa Inc. by 54.6%, acquiring an additional 2,106 shares, bringing its total ownership to 5,965 shares valued at approximately $2,090,000.
• Visa announced a quarterly dividend of $0.59 per share, with an annualized yield of 0.7%, to be paid on September 2nd.
• Analysts maintain a strong outlook on Visa, with an average consensus rating of "Moderate Buy" and a target price of $380.84 for the stock.

W.H. Cornerstone Investments Inc. increased its position in Visa Inc. (NYSE:V - Free Report) by 54.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,965 shares of the credit-card processor's stock after purchasing an additional 2,106 shares during the period. Visa makes up approximately 1.4% of W.H. Cornerstone Investments Inc.'s holdings, making the stock its 15th biggest position. W.H. Cornerstone Investments Inc.'s holdings in Visa were worth $2,090,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. von Borstel & Associates Inc. bought a new position in Visa during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new position in Visa during the 4th quarter valued at about $47,000. Navigoe LLC bought a new position in Visa during the 4th quarter valued at about $53,000. O Brien Wealth Partners LLC bought a new position in Visa during the 1st quarter valued at about $54,000. Finally, Hurley Capital LLC bought a new position in Visa during the 4th quarter valued at about $56,000. Institutional investors own 82.15% of the company's stock.

Visa Trading Down 1.9%

Shares of V opened at $338.81 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The company has a 50 day simple moving average of $355.06 and a two-hundred day simple moving average of $346.75. The firm has a market cap of $625.16 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Analyst Ratings Changes

Several equities analysts have issued reports on V shares. UBS Group restated a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred 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 directly owned 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,913 shares of company stock valued at $32,902,432. Insiders own 0.13% of the company's stock.

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.

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.