Visa Inc. (NYSE:V) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 13.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,609 shares of the credit-card processor’s stock after selling 11,430 shares during the quarter. Visa accounts for approximately 1.2% of Cullinan Associates Inc.’s portfolio, making the stock its 21st largest holding. Cullinan Associates Inc.’s holdings in Visa were worth $21,461,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC increased its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in Visa in the 2nd quarter worth $35,000. CarsonAllaria Wealth Management Ltd. acquired a new position in Visa during the second quarter worth $35,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE:V opened at $281.73 on Friday. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day moving average price of $279.02 and a 200 day moving average price of $273.17. The stock has a market capitalization of $515.27 billion, a P/E ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on V shares. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Citigroup decreased their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Finally, Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

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.