CIBC Private Wealth Group LLC Sells 75,577 Shares of Visa Inc. (NYSE:V)

CIBC Private Wealth Group LLC decreased its position in Visa Inc. (NYSE:V - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,159,796 shares of the credit-card processor's stock after selling 75,577 shares during the period. Visa accounts for 1.8% of CIBC Private Wealth Group LLC's portfolio, making the stock its 7th largest position. CIBC Private Wealth Group LLC owned 0.17% of Visa worth $987,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Riverstone Advisors LLC bought a new position in shares of Visa in the 4th quarter worth $217,000. Journey Strategic Wealth LLC boosted its holdings in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after buying an additional 1,361 shares during the last quarter. King Wealth Management Group grew its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after buying an additional 6,172 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Visa in the 4th quarter valued at about $10,163,000. Finally, Copley Financial Group Inc. acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $616,000. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company's stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,560,961 over the last quarter. 0.13% of the stock is owned by company insiders.

Remove Ads

Visa Stock Performance

V traded down $3.66 during trading on Tuesday, hitting $346.80. The stock had a trading volume of 7,465,158 shares, compared to its average volume of 7,152,985. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $644.28 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a 50 day moving average price of $344.22 and a 200-day moving average price of $315.95.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa's payout ratio is currently 23.79%.

Analysts Set New Price Targets

Several brokerages have commented on V. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Oppenheimer reissued an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Citigroup restated a "neutral" rating on shares of Visa in a report on Thursday, February 13th. Finally, Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.84.

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.