Cornerstone Capital Inc. Has $41.22 Million Holdings in Visa Inc. (NYSE:V)

Cornerstone Capital Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,335 shares of the credit-card processor’s stock after selling 2,952 shares during the quarter. Visa accounts for 4.5% of Cornerstone Capital Inc.’s holdings, making the stock its 3rd biggest position. Cornerstone Capital Inc.’s holdings in Visa were worth $41,223,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of V. GoalVest Advisory LLC increased its stake in Visa by 3.4% in the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after acquiring an additional 40 shares during the last quarter. Destiny Wealth Partners LLC increased its stake in Visa by 2.5% in the 4th quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after acquiring an additional 40 shares during the last quarter. Sunflower Bank N.A. increased its stake in Visa by 1.3% in the 4th quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after acquiring an additional 41 shares during the last quarter. Parker Financial LLC increased its stake in Visa by 4.8% in the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after acquiring an additional 42 shares during the last quarter. Finally, Patron Partners LLC increased its stake in Visa by 1.0% in the 4th quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock worth $1,118,000 after acquiring an additional 42 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V traded down $0.64 during mid-day trading on Friday, hitting $274.52. The company’s stock had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. The firm has a 50-day simple moving average of $279.24 and a 200 day simple moving average of $264.33. The firm has a market capitalization of $504.16 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. Analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,874 shares of company stock valued at $5,506,827. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Raymond James increased their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $302.58.

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.