Cascade Investment Group Inc. Trims Stock Position in Visa Inc. (NYSE:V)

Cascade Investment Group Inc. cut its stake in Visa Inc. (NYSE:V) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,788 shares of the credit-card processor’s stock after selling 458 shares during the period. Visa comprises approximately 1.4% of Cascade Investment Group Inc.’s portfolio, making the stock its 16th largest position. Cascade Investment Group Inc.’s holdings in Visa were worth $1,866,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at about $25,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa in the second quarter valued at about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on V. Morgan Stanley reaffirmed an “overweight” rating and issued a $322.00 target price on shares of Visa in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Oppenheimer assumed coverage on shares of Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Finally, TD Cowen lowered their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $313.81.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Visa Stock Performance

Visa stock opened at $279.29 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a market cap of $510.80 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The stock’s 50-day moving average is $275.07 and its 200-day moving average is $272.63.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $8.92 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 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.