CIBC Private Wealth Group LLC Has $987.75 Million Holdings in Visa Inc. (NYSE:V)

CIBC Private Wealth Group LLC cut its position in shares of Visa Inc. (NYSE:V) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 3,159,796 shares of the credit-card processor’s stock after selling 75,577 shares during the period. Visa accounts for about 1.8% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 7th biggest holding. CIBC Private Wealth Group LLC’s holdings in Visa were worth $987,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Visa during the fourth quarter valued at approximately $5,171,271,000. Vanguard Group Inc. boosted its position in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Visa in the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC increased its position in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares in the last quarter. Finally, State Street Corp raised its stake in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of Visa stock opened at $342.62 on Friday. The stock has a market cap of $636.51 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average is $343.60 and its 200 day moving average is $315.27. Visa Inc. has a one year low of $252.70 and a one year high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is currently 23.79%.

Insider Transactions at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,560,961 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group raised their price target on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer reiterated 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, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Five equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.