Cullinan Associates Inc. Boosts Stock Holdings in Visa Inc. (NYSE:V)

Cullinan Associates Inc. grew its position in Visa Inc. (NYSE:V) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,473 shares of the credit-card processor’s stock after acquiring an additional 159 shares during the quarter. Visa comprises 1.7% of Cullinan Associates Inc.’s holdings, making the stock its 14th largest position. Cullinan Associates Inc.’s holdings in Visa were worth $23,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa in the 4th quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new position in Visa during the fourth quarter worth approximately $32,000. NewSquare Capital LLC acquired a new position in Visa during the fourth quarter worth $35,000. FPC Investment Advisory Inc. grew its holdings in Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Visa in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,098 shares of company stock valued at $36,738,526. Insiders own 0.13% of the company’s stock.

Visa Trading Down 0.7%

V opened at $338.04 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The stock has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The business has a fifty day moving average price of $351.78 and a 200 day moving average price of $338.74.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company earned $2.51 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group increased their price objective on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $372.80.

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.