Cross Staff Investments Inc Boosts Stake in Visa Inc. (NYSE:V)

Cross Staff Investments Inc lifted its holdings in shares of Visa Inc. (NYSE:V) by 4.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,386 shares of the credit-card processor’s stock after purchasing an additional 273 shares during the period. Visa comprises about 1.7% of Cross Staff Investments Inc’s investment portfolio, making the stock its 11th biggest position. Cross Staff Investments Inc’s holdings in Visa were worth $2,238,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 price target for the company. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. UBS Group upped their price target on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,098 shares of company stock worth $36,738,526. 0.13% of the stock is owned by insiders.

Visa Trading Down 0.7%

V opened at $338.04 on Monday. The stock has a market cap of $623.73 billion, a PE ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $351.78 and a 200-day moving average of $338.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.51 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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.