Cumberland Partners Ltd Has $52.53 Million Stake in Visa Inc. (NYSE:V)

Key Points

• Cumberland Partners Ltd reduced its stake in Visa by 1.8%, holding 149,889 shares valued at approximately $52.53 million, making it the fund's third largest position.
• Visa reported quarterly earnings with $2.98 EPS, exceeding estimates by $0.13, and had a revenue of $10.17 billion, up 14.3% year-over-year.
• The company recently declared a quarterly dividend of $0.59 per share, with an ex-dividend date set for August 12th, reflecting a yield of 0.7% and a payout ratio of 23.05%.

Cumberland Partners Ltd lessened its stake in Visa Inc. (NYSE:V - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,889 shares of the credit-card processor's stock after selling 2,763 shares during the period. Visa comprises about 4.1% of Cumberland Partners Ltd's investment portfolio, making the stock its 3rd largest position. Cumberland Partners Ltd's holdings in Visa were worth $52,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. von Borstel & Associates Inc. bought a new stake in Visa during the first quarter valued at $27,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the fourth quarter valued at $47,000. Navigoe LLC bought a new stake in Visa during the fourth quarter valued at $53,000. O Brien Wealth Partners LLC bought a new stake in Visa during the first quarter valued at $54,000. Finally, Hurley Capital LLC bought a new stake in Visa during the fourth quarter valued at $56,000. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

Shares of Visa stock opened at $338.81 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. The company's 50-day moving average price is $355.06 and its two-hundred day moving average price is $346.34. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51. The stock has a market cap of $625.16 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the business earned $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is 23.05%.

Analyst Ratings Changes

Several analysts have weighed in on V shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Truist Financial reduced their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays reissued an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday. Finally, Oppenheimer boosted their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,913 shares of company stock worth $32,902,432. 0.13% of the stock is owned by company insiders.

Visa 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.

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