Cresset Asset Management LLC Reduces Position in Visa Inc. (NYSE:V)

Cresset Asset Management LLC lessened its holdings in shares of Visa Inc. (NYSE:VGet Rating) by 21.1% during the 1st quarter, HoldingsChannel reports. The fund owned 57,854 shares of the credit-card processor’s stock after selling 15,492 shares during the quarter. Cresset Asset Management LLC’s holdings in Visa were worth $12,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Landmark Wealth Management LLC purchased a new position in shares of Visa during the 1st quarter worth $32,000. Rise Advisors LLC bought a new stake in shares of Visa during the 4th quarter valued at $35,000. Monumental Financial Group Inc. bought a new stake in shares of Visa during the 1st quarter valued at $35,000. James Investment Research Inc. raised its position in shares of Visa by 1,400.0% during the 1st quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 168 shares during the period. Finally, Rather & Kittrell Inc. bought a new stake in shares of Visa during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $212.11, for a total value of $1,908,990.00. Following the sale, the chief executive officer now directly owns 156,887 shares in the company, valued at approximately $33,277,301.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Visa Stock Performance

Visa stock opened at $205.20 on Friday. The company’s 50-day moving average price is $207.79 and its 200-day moving average price is $207.85. Visa Inc. has a twelve month low of $185.91 and a twelve month high of $236.96. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.63. The company has a market cap of $387.91 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 22.12%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Visa from $292.00 to $296.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Wells Fargo & Company decreased their price objective on shares of Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Mizuho decreased their price objective on shares of Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, July 1st. Robert W. Baird decreased their price objective on shares of Visa from $290.00 to $265.00 in a research report on Wednesday, July 20th. Finally, Daiwa Capital Markets downgraded shares of Visa from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $225.00 in a research report on Tuesday, August 16th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.64.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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