Cim Investment Management Inc. Sells 53 Shares of Visa Inc. (NYSE:V)

Cim Investment Management Inc. lessened its holdings in Visa Inc. (NYSE:V) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,243 shares of the credit-card processor’s stock after selling 53 shares during the period. Cim Investment Management Inc.’s holdings in Visa were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter worth approximately $25,000. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in Visa during the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Visa Trading Up 1.3 %

V opened at $275.17 on Friday. The company’s 50 day moving average price is $271.31 and its two-hundred day moving average price is $273.35. The firm has a market capitalization of $503.27 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Ratings Changes

V has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Evercore ISI decreased their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

About Visa

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.