Cornercap Investment Counsel Inc. Sells 239 Shares of Visa Inc. (NYSE:V)

Cornercap Investment Counsel Inc. cut its position in shares of Visa Inc. (NYSE:V) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,083 shares of the credit-card processor’s stock after selling 239 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Visa were worth $2,646,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of V. Livelsberger Financial Advisory bought a new position in shares of Visa during the 4th quarter valued at about $25,000. Westend Capital Management LLC bought a new position in shares of Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Morgan Stanley reduced their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Macquarie restated an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Visa Trading Down 0.5 %

V opened at $283.96 on Thursday. The stock has a market cap of $517.46 billion, a PE ratio of 31.73, a PEG ratio of 1.97 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $267.62 and a 200-day moving average of $273.21. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.16 EPS. Equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

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.