Cornercap Investment Counsel Inc. Has $1.43 Million Stock Position in Visa Inc. (NYSE:V)

Cornercap Investment Counsel Inc. lessened its holdings in Visa Inc. (NYSE:V) by 48.3% during the third quarter, HoldingsChannel reports. The fund owned 5,208 shares of the credit-card processor’s stock after selling 4,875 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Visa were worth $1,432,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Unionview LLC lifted its stake in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. KMG Fiduciary Partners LLC increased its holdings in Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after buying an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares during the period. Washington Trust Bank boosted its stake in shares of Visa by 1.1% during the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after acquiring an additional 37 shares during the last quarter. Finally, Proffitt & Goodson Inc. grew its position in shares of Visa by 20.3% during the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after acquiring an additional 37 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Macquarie raised their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.4 %

V opened at $308.27 on Friday. The stock’s 50 day moving average price is $285.84 and its 200-day moving average price is $275.41. The stock has a market cap of $561.76 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a one year low of $245.34 and a one year high of $312.44.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Visa 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.