Cullen Frost Bankers Inc. Purchases 1,124 Shares of Visa Inc. (NYSE:V)

Cullen Frost Bankers Inc. lifted its position in shares of Visa Inc. (NYSE:V) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 355,288 shares of the credit-card processor’s stock after purchasing an additional 1,124 shares during the quarter. Visa makes up about 1.7% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 9th largest position. Cullen Frost Bankers Inc.’s holdings in Visa were worth $124,514,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Hirtle Callaghan & Co LLC raised its position in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after acquiring an additional 29 shares during the last quarter. FWL Investment Management LLC increased its holdings in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. increased its holdings in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after purchasing an additional 30 shares during the last quarter. Headinvest LLC increased its holdings in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after purchasing an additional 30 shares during the last quarter. Finally, Kennebec Savings Bank increased its holdings in Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock valued at $1,182,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 0.8%

V opened at $349.83 on Thursday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The stock’s fifty day simple moving average is $356.94 and its 200 day simple moving average is $343.16. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $645.50 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 2.35 and a beta of 0.92.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

A number of research firms recently commented on V. Truist Financial began coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective for the company. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. BMO Capital Markets boosted their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Barclays restated an “overweight” rating on shares of Visa in a report on Friday, June 13th. Finally, Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.84.

About Visa

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.