Cypress Capital Group Sells 1,898 Shares of Visa Inc. (NYSE:V)

Cypress Capital Group lessened its holdings in shares of Visa Inc. (NYSE:V) by 2.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 71,609 shares of the credit-card processor’s stock after selling 1,898 shares during the quarter. Visa accounts for approximately 2.8% of Cypress Capital Group’s portfolio, making the stock its 5th largest position. Cypress Capital Group’s holdings in Visa were worth $22,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter worth approximately $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter worth approximately $27,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the period. Finally, Modus Advisors LLC bought a new stake in shares of Visa during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.0 %

Shares of NYSE:V opened at $352.18 on Thursday. The company has a market capitalization of $654.27 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a fifty day moving average of $335.17 and a 200-day moving average of $307.55. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Analyst Ratings Changes

Several brokerages recently issued reports on V. Morgan Stanley boosted their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is owned by corporate insiders.

About Visa

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.