Visa Inc. (NYSE:V) Position Cut by Cypress Capital Group

Cypress Capital Group reduced its position in shares of Visa Inc. (NYSE:V) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,531 shares of the credit-card processor’s stock after selling 802 shares during the period. Visa comprises about 2.3% of Cypress Capital Group’s holdings, making the stock its 5th largest holding. Cypress Capital Group’s holdings in Visa were worth $19,562,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares in the last quarter. Capital International Investors raised its holdings in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares in the last quarter. Capital World Investors lifted its position in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Norges Bank purchased a new stake in Visa during the 4th quarter worth about $3,895,015,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Visa by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock valued at $2,725,079,000 after purchasing an additional 141,566 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Citigroup decreased their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley lowered their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Bank of America reiterated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $308.50.

Visa Price Performance

Shares of NYSE:V traded up $2.50 during trading on Monday, hitting $269.94. 776,146 shares of the stock were exchanged, compared to its average volume of 7,139,635. The company has a fifty day moving average price of $265.93 and a two-hundred day moving average price of $273.23. The company has a market cap of $493.70 billion, a PE ratio of 30.16, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 EPS. On average, analysts forecast that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

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.