28,591 Shares in Visa Inc. (NYSE:V) Acquired by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,591 shares of the credit-card processor's stock, valued at approximately $9,170,000. Visa accounts for about 2.3% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 12th largest holding.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new stake in shares of Visa in the fourth quarter valued at about $5,171,271,000. Vanguard Group Inc. raised its holdings in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Visa during the fourth quarter worth about $1,955,403,000. Proficio Capital Partners LLC lifted its position in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the sale, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. This trade represents a 35.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

V traded up $0.63 during midday trading on Wednesday, reaching $359.93. The company had a trading volume of 3,293,103 shares, compared to its average volume of 7,011,967. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average of $342.15 and a two-hundred day moving average of $332.61. The company has a market cap of $664.13 billion, a P/E ratio of 36.28, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $369.15.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.51 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Citigroup restated a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $366.13.

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.