Cypress Capital Management LLC WY Sells 431 Shares of Visa Inc. (NYSE:V)

Cypress Capital Management LLC WY lessened its holdings in shares of Visa Inc. (NYSE:V) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,506 shares of the credit-card processor’s stock after selling 431 shares during the period. Visa makes up approximately 2.7% of Cypress Capital Management LLC WY’s portfolio, making the stock its 9th biggest holding. Cypress Capital Management LLC WY’s holdings in Visa were worth $2,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lakeridge Wealth Management LLC lifted its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after buying an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new stake in Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC grew its stake in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. Eagle Strategies LLC grew its stake in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Visa by 7.7% in the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after buying an additional 43,546 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Visa stock opened at $348.90 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.37 and a beta of 0.92. The business’s fifty day moving average is $356.82 and its two-hundred day moving average is $343.63. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $2.51 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is presently 23.72%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on V. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday. They issued a “buy” rating and a $410.00 target price on the stock. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.52.

Visa 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.