Cornerstone Wealth Group LLC grew its holdings in Visa Inc. (NYSE:V – Free Report) by 8.2% in the first quarter, Holdings Channel reports. The institutional investor owned 31,421 shares of the credit-card processor’s stock after acquiring an additional 2,372 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Visa were worth $9,739,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in V. Norges Bank purchased a new stake in Visa in the 4th quarter worth $5,877,738,000. Cardano Risk Management B.V. raised its position in Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after acquiring an additional 7,364,762 shares during the period. J. Stern & Co. LLP raised its position in Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after acquiring an additional 3,351,223 shares during the period. Victory Capital Management Inc. lifted its holdings in Visa by 48.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after purchasing an additional 2,116,463 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Price Performance
Shares of NYSE V opened at $336.96 on Monday. The firm has a 50-day simple moving average of $323.36 and a 200-day simple moving average of $324.29. The stock has a market capitalization of $604.43 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $359.66.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is presently 23.34%.
Visa declared that its board has authorized a share buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Visa News Roundup
Here are the key news stories impacting Visa this week:
- Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
- Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
- Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
- Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
- Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on V shares. Morgan Stanley reissued an “overweight” rating and set a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Citigroup decreased their price target on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Loop Capital initiated coverage on Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective for the company. Finally, Truist Financial set a $371.00 target price on Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $387.78.
View Our Latest Stock Analysis on V
Insider Buying and Selling
In other Visa news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.
Visa Company Profile
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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