Cypress Capital Group Lowers Holdings in Visa Inc. (NYSE:V)

Cypress Capital Group trimmed its stake in Visa Inc. (NYSE:V) by 5.7% during the first quarter, HoldingsChannel.com reports. The fund owned 91,212 shares of the credit-card processor’s stock after selling 5,534 shares during the quarter. Visa accounts for about 2.7% of Cypress Capital Group’s holdings, making the stock its 2nd largest position. Cypress Capital Group’s holdings in Visa were worth $19,312,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in V. Essex Financial Services Inc. grew its holdings in shares of Visa by 9.3% during the fourth quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock worth $5,002,000 after purchasing an additional 1,944 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of Visa by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 10,442 shares of the credit-card processor’s stock worth $2,284,000 after purchasing an additional 410 shares during the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of Visa by 4.9% during the fourth quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock worth $2,972,000 after purchasing an additional 629 shares during the last quarter. Merrion Investment Management Co LLC bought a new stake in shares of Visa during the fourth quarter worth $551,000. Finally, Altium Wealth Management LLC grew its holdings in shares of Visa by 4.0% during the fourth quarter. Altium Wealth Management LLC now owns 20,216 shares of the credit-card processor’s stock worth $4,422,000 after purchasing an additional 776 shares during the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.

Shares of NYSE V traded up $4.89 during mid-day trading on Thursday, reaching $226.87. 209,953 shares of the company’s stock were exchanged, compared to its average volume of 9,816,802. The firm has a market capitalization of $442.92 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 3.80 and a beta of 0.96. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $216.58 and a 200 day simple moving average of $208.04. Visa Inc. has a twelve month low of $159.15 and a twelve month high of $228.23.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.52 billion. Visa had a return on equity of 37.22% and a net margin of 49.74%. Visa’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. Equities research analysts predict that Visa Inc. will post 5.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, February 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.56%. Visa’s payout ratio is presently 25.40%.

V has been the topic of several research analyst reports. Jefferies Financial Group upgraded Visa from a “hold” rating to a “buy” rating and increased their target price for the stock from $195.00 to $250.00 in a report on Wednesday, January 13th. Barclays reiterated a “buy” rating and issued a $230.00 price target on shares of Visa in a report on Tuesday, December 22nd. Sanford C. Bernstein initiated coverage on Visa in a report on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price target on the stock. Credit Suisse Group raised their price target on Visa from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, January 29th. Finally, Morgan Stanley raised their price target on Visa from $233.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Visa has an average rating of “Buy” and a consensus price target of $228.04.

In related news, Director Robert W. Matschullat sold 29,956 shares of the stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $223.02, for a total transaction of $6,680,787.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $210.00, for a total value of $2,350,530.00. Following the completion of the transaction, the president now owns 11,193 shares of the company’s stock, valued at $2,350,530. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,093 shares of company stock valued at $20,418,578. 0.19% of the stock is owned by corporate insiders.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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