Cypress Asset Management Inc. TX decreased its position in Visa Inc (NYSE:V) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,610 shares of the credit-card processor’s stock after selling 605 shares during the quarter. Visa makes up 2.4% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 9th largest position. Cypress Asset Management Inc. TX’s holdings in Visa were worth $6,985,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new stake in Visa in the second quarter worth about $26,000. Lowe Wealth Advisors LLC grew its holdings in Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the period. Personal Wealth Partners purchased a new stake in Visa in the second quarter worth about $30,000. Mcmillion Capital Management Inc. purchased a new stake in Visa in the second quarter worth about $38,000. Finally, Hexavest Inc. purchased a new stake in Visa in the second quarter worth about $40,000. Hedge funds and other institutional investors own 80.99% of the company’s stock.
Visa stock traded down $0.67 during midday trading on Monday, reaching $175.04. 685,200 shares of the company traded hands, compared to its average volume of 8,143,441. The firm has a market capitalization of $353.02 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 1.83 and a beta of 0.96. The business has a 50 day moving average of $177.09 and a two-hundred day moving average of $171.45. Visa Inc has a 12 month low of $121.60 and a 12 month high of $187.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69.
A number of equities research analysts have weighed in on the stock. Robert W. Baird set a $196.00 price objective on shares of Visa and gave the stock a “buy” rating in a report on Friday, July 19th. Wedbush set a $187.00 target price on shares of Visa and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Goldman Sachs Group reiterated a “buy” rating and issued a $202.00 target price on shares of Visa in a research note on Wednesday, July 24th. Nomura upped their target price on shares of Visa from $178.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Raymond James upped their target price on shares of Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $196.57.
In other Visa news, Director Denise M. Morrison bought 1,000 shares of Visa stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the completion of the acquisition, the director now owns 3,223 shares in the company, valued at $551,551.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now directly owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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