Cullen Investment Group LTD. Has $8.95 Million Stock Position in Visa Inc. (NYSE:V)

Cullen Investment Group LTD. reduced its position in Visa Inc. (NYSE:V) by 1.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,533 shares of the credit-card processor’s stock after selling 409 shares during the period. Visa accounts for 1.3% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 21st biggest holding. Cullen Investment Group LTD.’s holdings in Visa were worth $8,945,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI grew its stake in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. Swedbank AB acquired a new stake in shares of Visa during the first quarter worth $511,321,000. GQG Partners LLC grew its stake in shares of Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the period. Finally, Wulff Hansen & CO. grew its stake in shares of Visa by 26,951.9% during the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on V shares. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 target price on shares of Visa in a report on Wednesday, September 25th. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Visa Stock Performance

NYSE V traded up $1.07 during trading on Friday, reaching $277.93. 4,260,920 shares of the company’s stock were exchanged, compared to its average volume of 7,201,777. The business has a 50 day moving average price of $273.00 and a 200-day moving average price of $273.07. The stock has a market capitalization of $508.32 billion, a P/E ratio of 31.05, a PEG ratio of 1.92 and a beta of 0.96. 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 Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Visa 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.