Cullen Investment Group LTD. Has $10.41 Million Holdings in Visa Inc. $V

Cullen Investment Group LTD. grew its holdings in shares of Visa Inc. (NYSE:VFree Report) by 7.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,774 shares of the credit-card processor’s stock after purchasing an additional 2,085 shares during the quarter. Visa accounts for approximately 1.4% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 17th biggest holding. Cullen Investment Group LTD.’s holdings in Visa were worth $10,414,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Insight Wealth Strategies LLC lifted its position in shares of Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after acquiring an additional 29 shares during the period. Old Port Advisors boosted its stake in Visa by 0.9% during the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $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 period. Define Financial LLC increased its stake in Visa by 4.0% in the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock valued at $266,000 after purchasing an additional 30 shares in the last quarter. Finally, Patron Partners LLC increased its stake in Visa by 0.6% in the third 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 in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.2%

NYSE V opened at $305.43 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $318.34 and a 200 day simple moving average of $333.26. Visa Inc. has a 12 month low of $297.03 and a 12 month high of $375.51. The firm has a market capitalization of $554.40 billion, a P/E ratio of 28.65, a PEG ratio of 1.75 and a beta of 0.78.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm earned $2.75 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.9%. Visa’s payout ratio is 25.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a report on Wednesday, January 28th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research report on Friday, January 30th. Cantor Fitzgerald raised Visa to a “strong-buy” rating in a research note on Tuesday, January 27th. UBS Group reiterated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Finally, Evercore set a $380.00 price objective on Visa in a research note on Friday, December 12th. Seven investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Visa has an average rating of “Buy” and a consensus target price of $392.65.

View Our Latest Report on Visa

Trending Headlines about Visa

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Insider Activity

In other Visa news, Director Lloyd Carney sold 650 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director owned 2,679 shares in the company, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

Visa Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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