Cim Investment Management Inc. Has $2.20 Million Holdings in Visa Inc. (NYSE:V)

Cim Investment Management Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 2.9% in the second quarter, Holdings Channel reports. The firm owned 9,395 shares of the credit-card processor’s stock after selling 278 shares during the quarter. Visa accounts for approximately 0.7% of Cim Investment Management Inc.’s holdings, making the stock its 17th biggest holding. Cim Investment Management Inc.’s holdings in Visa were worth $2,197,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV grew its stake in Visa by 2.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 2,118 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 42 shares during the period. G&S Capital LLC grew its stake in Visa by 1.8% in the second quarter. G&S Capital LLC now owns 2,429 shares of the credit-card processor’s stock valued at $568,000 after acquiring an additional 43 shares during the period. Founders Capital Management grew its stake in Visa by 2.9% in the second quarter. Founders Capital Management now owns 1,600 shares of the credit-card processor’s stock valued at $374,000 after acquiring an additional 45 shares during the period. CapWealth Advisors LLC boosted its position in shares of Visa by 4.4% during the second quarter. CapWealth Advisors LLC now owns 1,067 shares of the credit-card processor’s stock worth $249,000 after buying an additional 45 shares during the period. Finally, IPG Investment Advisors LLC boosted its position in shares of Visa by 1.2% during the second quarter. IPG Investment Advisors LLC now owns 3,916 shares of the credit-card processor’s stock worth $916,000 after buying an additional 45 shares during the period. 81.04% of the stock is owned by institutional investors and hedge funds.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction on Friday, July 30th. The stock was sold at an average price of $247.21, for a total value of $2,224,890.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Ryan Mcinerney sold 11,194 shares of the firm’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $224.17, for a total value of $2,509,358.98. The disclosure for this sale can be found here. Insiders have sold 53,671 shares of company stock worth $12,623,562 in the last three months. 0.19% of the stock is currently owned by company insiders.

NYSE:V traded up $1.76 during trading hours on Thursday, reaching $224.22. 169,172 shares of the company were exchanged, compared to its average volume of 8,111,718. The company has a market capitalization 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 1-year low of $179.23 and a 1-year high of $252.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.00 and a quick ratio of 2.00. The business has a 50 day moving average of $228.88 and a 200 day moving average of $230.73.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.16. The business had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 5.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were given a dividend of $0.32 per share. 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%.

V has been the subject of several recent research reports. Raymond James upped their price objective on Visa from $268.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Piper Sandler upped their price objective on Visa from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Compass Point upped their price objective on Visa from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Susquehanna upped their price objective on Visa from $265.00 to $290.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. Finally, Susquehanna Bancshares upped their price objective on Visa from $265.00 to $290.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $272.71.

About Visa

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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