Cim Investment Management Inc. Decreases Stock Position in Visa Inc. (NYSE:V)

Cim Investment Management Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,395 shares of the credit-card processor’s stock after selling 278 shares during the period. Visa accounts for 0.7% of Cim Investment Management Inc.’s portfolio, making the stock its 17th biggest position. Cim Investment Management Inc.’s holdings in Visa were worth $2,197,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cable Hill Partners LLC boosted its stake in Visa by 123.6% during the second quarter. Cable Hill Partners LLC now owns 2,422 shares of the credit-card processor’s stock valued at $566,000 after buying an additional 1,339 shares in the last quarter. Capital Directions Investment Advisors LLC acquired a new stake in Visa during the 2nd quarter worth about $898,000. Clear Perspective Advisors LLC boosted its position in Visa by 0.8% during the 2nd quarter. Clear Perspective Advisors LLC now owns 13,920 shares of the credit-card processor’s stock worth $3,255,000 after acquiring an additional 106 shares during the period. Cherry Creek Investment Advisors Inc. purchased a new stake in shares of Visa during the 2nd quarter worth about $3,496,000. Finally, Ossiam raised its stake in shares of Visa by 64.2% during the 2nd quarter. Ossiam now owns 104,342 shares of the credit-card processor’s stock worth $25,709,000 after purchasing an additional 40,782 shares in the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.

V stock traded up $1.76 during trading on Thursday, hitting $224.22. The company had a trading volume of 169,172 shares, compared to its average volume of 8,111,718. The company has a fifty day moving average price of $228.88 and a two-hundred day moving average price of $230.73. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.61. The company has a market cap of $436.77 billion, a P/E ratio of 45.47, a P/E/G ratio of 2.00 and a beta of 0.98. Visa Inc. has a fifty-two week low of $179.23 and a fifty-two week high of $252.67.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.16. The business had revenue of $6.13 billion for the quarter, compared to analyst estimates of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. Visa’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, analysts expect that Visa Inc. will post 5.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 12th. Visa’s dividend payout ratio is currently 25.40%.

Several brokerages have commented on V. Compass Point lifted their price target on Visa from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Robert W. Baird lifted their price target on Visa from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, July 15th. Raymond James lifted their price target on Visa from $268.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Truist lifted their price target on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Finally, Truist Securities lifted their price target on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and an average price target of $272.71.

In other Visa news, EVP Tullier Kelly Mahon sold 2,091 shares of the business’s stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total value of $520,052.61. Following the completion of the transaction, the executive vice president now directly owns 32,055 shares of the company’s stock, valued at $7,972,399.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $246.29, for a total value of $2,756,723.97. The disclosure for this sale can be found here. In the last three months, insiders sold 53,671 shares of company stock worth $12,623,562. Insiders own 0.19% of the company’s stock.

Visa Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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