Cascade Investment Group Inc. Trims Stake in Visa Inc. $V

Cascade Investment Group Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 4.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,479 shares of the credit-card processor’s stock after selling 315 shares during the quarter. Visa accounts for 1.7% of Cascade Investment Group Inc.’s holdings, making the stock its 13th largest position. Cascade Investment Group Inc.’s holdings in Visa were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of V. GAMMA Investing LLC raised its position in shares of 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 worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Nuveen LLC acquired a new position in shares of Visa in the first quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Visa in the fourth quarter worth about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Visa by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock worth $4,210,207,000 after acquiring an additional 1,723,785 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE V opened at $351.19 on Wednesday. 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 twelve month low of $267.67 and a twelve month high of $375.51. The stock has a 50 day moving average of $347.66 and a two-hundred day moving average of $347.42. The stock has a market cap of $643.65 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.32 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business’s 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 transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,127 shares of company stock worth $28,340,553. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on V shares. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Morgan Stanley raised their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $380.84.

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.