CIBC World Market Trims Stake in Visa by 2.7%

CIBC World Market Inc., a financial services company, has reduced its stake in Visa Inc. by 2.7% during the second quarter, according to a recent disclosure with the Securities & Exchange Commission.

The firm sold 25,924 shares of Visa stock, resulting in a decrease from 921,703 to 895,779 shares owned as of the end of the quarter.

CIBC World Market Inc. now owns about 0.05% of Visa's outstanding shares, with a total value of $316,227,000.

This move is part of a larger trend among institutional investors, with several firms increasing or decreasing their stakes in Visa during the second quarter.

The current market capitalization of Visa stands at $662.18 billion, with a P/E ratio of 31.56 and a beta of 0.74.