Cypress Capital Group Sells 835 Shares of Visa Inc. (NYSE:V)

Key Points

• Cypress Capital Group reduced its holdings in Visa by 1.2%, now owning 70,774 shares, which represent approximately 3.2% of its total portfolio, making Visa its 5th largest position.
• Visa's recent quarterly earnings revealed $2.98 EPS, surpassing analyst expectations of $2.85, and the company's revenue increased by 14.3% year-over-year to $10.17 billion.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus target price of $380.84, reflecting optimism about its future performance.

Cypress Capital Group cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,774 shares of the credit-card processor's stock after selling 835 shares during the period. Visa accounts for approximately 3.2% of Cypress Capital Group's holdings, making the stock its 5th biggest holding. Cypress Capital Group's holdings in Visa were worth $24,803,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Nuveen LLC acquired a new position in shares of Visa during the 1st quarter worth about $3,518,533,000. Northern Trust Corp increased its stake in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa in the 4th quarter valued at approximately $673,689,000. Finally, Sanders Capital LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $623,022,000. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were 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 in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 over the last ninety days. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on V. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group reissued a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. 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. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Up 0.3%

Shares of Visa stock traded up $0.90 during trading hours on Tuesday, reaching $336.80. 5,682,507 shares of the company's stock were exchanged, compared to its average volume of 6,302,282. The stock has a market cap of $617.28 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a 50 day moving average of $351.62 and a two-hundred day moving average of $347.23. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51.

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, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

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.