Cullen Investment Group LTD. Invests $9.75 Million in Visa Inc. (NYSE:V)

Cullen Investment Group LTD. acquired a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 37,466 shares of the credit-card processor’s stock, valued at approximately $9,754,000. Visa comprises about 1.7% of Cullen Investment Group LTD.’s holdings, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Investment Advisory Services Inc. TX ADV raised its stake in shares of Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after buying an additional 78 shares during the last quarter. Towerpoint Wealth LLC acquired a new position in shares of Visa during the 4th quarter worth $216,000. Wayfinding Financial LLC raised its stake in shares of Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after buying an additional 161 shares during the last quarter. Richelieu Gestion SA acquired a new position in shares of Visa during the 4th quarter worth $307,000. Finally, Cooper Financial Group raised its stake in shares of Visa by 6.4% during the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after buying an additional 476 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares in the company, valued at $62,716,662.40. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock valued at $15,131,081 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Barclays boosted their target price on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Monness Crespi & Hardt assumed coverage on shares of Visa in a research note on Wednesday, December 20th. They issued a “neutral” rating for the company. Citigroup boosted their target price on shares of Visa from $296.00 to $306.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Wells Fargo & Company upped their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.87.

Visa Stock Up 0.0 %

NYSE V opened at $271.34 on Wednesday. The stock has a market cap of $498.32 billion, a PE ratio of 31.22, a P/E/G ratio of 1.87 and a beta of 0.96. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The business has a 50 day moving average price of $279.93 and a two-hundred day moving average price of $262.49. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter in the prior year, the business earned $2.18 EPS. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is 23.94%.

Visa Company 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.