Visa Inc. (NYSE:V) Stock Holdings Trimmed by Cascade Investment Group Inc.

Cascade Investment Group Inc. lowered its holdings in shares of Visa Inc. (NYSE:V) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,788 shares of the credit-card processor’s stock after selling 458 shares during the period. Visa makes up 1.4% of Cascade Investment Group Inc.’s holdings, making the stock its 16th largest position. Cascade Investment Group Inc.’s holdings in Visa were worth $1,866,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Westend Capital Management LLC acquired a new position in shares of Visa during the 1st quarter valued at $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 period. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Oppenheimer assumed coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Finally, Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $313.81.

Visa Price Performance

NYSE V opened at $279.29 on Wednesday. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $510.80 billion, a PE ratio of 31.21, a P/E/G ratio of 1.92 and a beta of 0.96. The stock has a 50-day simple moving average of $275.07 and a 200 day simple moving average of $272.63.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio is 23.24%.

Visa Company 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.