Visa Inc. (NYSE:V) is Cidel Asset Management Inc.'s 9th Largest Position

Cidel Asset Management Inc. lowered its position in Visa Inc. (NYSE:V - Free Report) by 1.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 116,301 shares of the credit-card processor's stock after selling 2,248 shares during the period. Visa accounts for approximately 2.7% of Cidel Asset Management Inc.'s portfolio, making the stock its 9th biggest holding. Cidel Asset Management Inc.'s holdings in Visa were worth $40,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $35,000. Sellwood Investment Partners LLC acquired a new position in Visa during the fourth quarter worth $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa in the 4th quarter valued at $47,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa in the 4th quarter worth $47,000. Finally, Navigoe LLC acquired a new stake in shares of Visa in the 4th quarter worth $53,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $194,807.49. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,478 shares of company stock worth $33,717,733. Company insiders own 0.13% of the company's stock.

Visa Stock Performance

NYSE:V opened at $353.99 on Thursday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a fifty day simple moving average of $354.87 and a two-hundred day simple moving average of $340.67. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $653.17 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping 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 firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Macquarie reduced their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Finally, BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa presently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

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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