Cortland Associates Inc. MO Has $59.73 Million Stock Holdings in Visa Inc. (NYSE:V)

Cortland Associates Inc. MO decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 15.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,426 shares of the credit-card processor's stock after selling 32,154 shares during the period. Visa comprises 7.2% of Cortland Associates Inc. MO's portfolio, making the stock its 5th largest holding. Cortland Associates Inc. MO's holdings in Visa were worth $59,727,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Omega Financial Group LLC increased its holdings in shares of Visa by 1.9% in the 1st quarter. Omega Financial Group LLC now owns 3,200 shares of the credit-card processor's stock valued at $1,121,000 after purchasing an additional 60 shares during the period. WealthTrust Asset Management LLC increased its holdings in shares of Visa by 267.4% in the 1st quarter. WealthTrust Asset Management LLC now owns 2,899 shares of the credit-card processor's stock valued at $1,016,000 after purchasing an additional 2,110 shares during the period. Gateway Wealth Partners LLC increased its holdings in shares of Visa by 14.2% in the 1st quarter. Gateway Wealth Partners LLC now owns 2,014 shares of the credit-card processor's stock valued at $706,000 after purchasing an additional 251 shares during the period. Freedom Day Solutions LLC increased its holdings in shares of Visa by 4.5% in the 1st quarter. Freedom Day Solutions LLC now owns 1,241 shares of the credit-card processor's stock valued at $435,000 after purchasing an additional 53 shares during the period. Finally, SteelPeak Wealth LLC increased its holdings in shares of Visa by 1.4% in the 1st quarter. SteelPeak Wealth LLC now owns 24,500 shares of the credit-card processor's stock valued at $8,586,000 after purchasing an additional 339 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Visa stock traded down $8.17 during trading hours on Friday, reaching $347.71. 7,577,927 shares of the company were exchanged, compared to its average volume of 6,822,520. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92. The stock has a 50-day moving average of $356.93 and a 200 day moving average of $342.71.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the prior year, the business earned $2.51 earnings per share. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Citigroup began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Finally, Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

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.