Cornerstone Wealth Group LLC Acquires 4,136 Shares of Visa Inc (NYSE:V)

Cornerstone Wealth Group LLC lifted its holdings in shares of Visa Inc (NYSE:V) by 29.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,288 shares of the credit-card processor’s stock after acquiring an additional 4,136 shares during the period. Cornerstone Wealth Group LLC’s holdings in Visa were worth $2,946,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rowland & Co. Investment Counsel ADV grew its stake in Visa by 4.4% during the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 1,183 shares of the credit-card processor’s stock valued at $222,000 after purchasing an additional 50 shares in the last quarter. Pratt Collard Advisory Partners LLC grew its stake in Visa by 3.6% during the 4th quarter. Pratt Collard Advisory Partners LLC now owns 1,445 shares of the credit-card processor’s stock valued at $272,000 after purchasing an additional 50 shares in the last quarter. Capital Investment Counsel Inc grew its stake in Visa by 0.3% during the 4th quarter. Capital Investment Counsel Inc now owns 17,031 shares of the credit-card processor’s stock valued at $3,200,000 after purchasing an additional 50 shares in the last quarter. Private Advisory Group LLC grew its stake in Visa by 3.0% during the 4th quarter. Private Advisory Group LLC now owns 1,758 shares of the credit-card processor’s stock valued at $330,000 after purchasing an additional 51 shares in the last quarter. Finally, Weaver Consulting Group grew its stake in Visa by 12.9% during the 4th quarter. Weaver Consulting Group now owns 445 shares of the credit-card processor’s stock valued at $77,000 after purchasing an additional 51 shares in the last quarter. 81.88% of the stock is owned by institutional investors.

Visa stock traded down $0.88 during mid-day trading on Friday, hitting $189.74. 237,361 shares of the company’s stock traded hands, compared to its average volume of 9,968,162. The firm has a 50 day moving average price of $172.89 and a 200 day moving average price of $183.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.48. The company has a market cap of $376.77 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 3.08 and a beta of 0.92. Visa Inc has a one year low of $133.93 and a one year high of $214.17.

Visa (NYSE:V) last announced its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.75 billion. Visa had a return on equity of 43.45% and a net margin of 52.26%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. On average, analysts expect that Visa Inc will post 4.99 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, May 13th. Visa’s payout ratio is currently 22.06%.

A number of research analysts have commented on the company. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, February 12th. Credit Suisse Group reduced their target price on Visa from $223.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. BMO Capital Markets reduced their target price on Visa from $234.00 to $213.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. SunTrust Banks increased their target price on Visa from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Citigroup increased their target price on Visa from $190.00 to $194.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Five analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $202.75.

In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction on Friday, February 28th. The stock was sold at an average price of $174.04, for a total transaction of $1,218,280.00. Following the transaction, the chief executive officer now directly owns 145,090 shares in the company, valued at approximately $25,251,463.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 21,000 shares of company stock worth $3,620,540. 0.19% of the stock is owned by insiders.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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