CI Investments Inc. Sells 21,382 Shares of Visa Inc. $V

CI Investments Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 707,656 shares of the credit-card processor’s stock after selling 21,382 shares during the quarter. Visa makes up about 0.9% of CI Investments Inc.’s investment portfolio, making the stock its 19th biggest position. CI Investments Inc.’s holdings in Visa were worth $241,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC grew its position in shares of Visa by 1.6% in the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after buying an additional 29 shares during the last quarter. Old Port Advisors boosted its stake in Visa by 0.9% in the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock valued at $1,169,000 after acquiring an additional 29 shares in the last quarter. Carr Financial Group Corp grew its holdings in Visa by 2.4% in the third quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock worth $440,000 after purchasing an additional 30 shares during the last quarter. Define Financial LLC increased its position in shares of Visa by 4.0% during the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock worth $266,000 after purchasing an additional 30 shares in the last quarter. Finally, Patron Partners LLC lifted its holdings in shares of Visa by 0.6% during the 3rd quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock valued at $1,587,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several research analyst reports. Daiwa Securities Group raised Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price on the stock in a research report on Monday, February 2nd. Truist Financial set a $372.00 price objective on shares of Visa in a report on Tuesday, February 10th. Piper Sandler set a $160.00 price objective on shares of Visa in a research report on Wednesday, January 28th. Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 target price on shares of Visa in a research report on Friday, January 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $411.00 price target (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $391.43.

Visa Stock Up 0.2%

NYSE:V opened at $320.76 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $332.37 and its 200-day moving average price is $337.92. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The firm has a market capitalization of $582.24 billion, a P/E ratio of 30.09, a PEG ratio of 1.83 and a beta of 0.78.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.75 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.