Cornerstone Capital Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,156 shares of the credit-card processor’s stock after selling 1,545 shares during the period. Visa accounts for approximately 3.8% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 2nd biggest holding. Cornerstone Capital Inc.’s holdings in Visa were worth $20,177,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of V. Mercer Capital Advisers Inc. grew its holdings in Visa by 2.2% during the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after acquiring an additional 25 shares during the period. Mascoma Wealth Management LLC acquired a new stake in Visa during the 2nd quarter worth about $122,000. SpiderRock Advisors LLC grew its holdings in Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after acquiring an additional 19,709 shares during the period. Advantage Investment Management LLC grew its holdings in Visa by 27.4% during the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after acquiring an additional 314 shares during the period. Finally, Delta Asset Management LLC TN grew its holdings in Visa by 11.7% during the 2nd quarter. Delta Asset Management LLC TN now owns 1,721 shares of the credit-card processor’s stock worth $161,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 81.75% of the company’s stock.
Several brokerages have recently commented on V. Jefferies Group LLC raised their target price on Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday. Buckingham Research raised their target price on Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Nomura raised their target price on Visa from $120.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Barclays PLC raised their target price on Visa from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Finally, Loop Capital raised their target price on Visa from $111.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $116.01.
Visa Inc. (NYSE V) opened at 110.04 on Tuesday. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $110.74. The stock has a market capitalization of $251.60 billion, a price-to-earnings ratio of 40.92 and a beta of 0.94. The company has a 50-day moving average of $106.59 and a 200-day moving average of $99.26.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts anticipate that Visa Inc. will post $4.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is presently 23.57%.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
What are top analysts saying about Visa Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Visa Inc. and related companies.