Cullen Frost Bankers Inc. decreased its position in Visa Inc. (NYSE:V) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 432,199 shares of the credit-card processor’s stock after selling 2,342 shares during the period. Visa makes up about 1.2% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 14th largest position. Cullen Frost Bankers Inc.’s holdings in Visa were worth $32,056,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Iowa State Bank purchased a new position in Visa during the second quarter worth $111,000. West Oak Capital LLC increased its position in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock worth $114,000 after buying an additional 1,090 shares during the period. WealthTrust Arizona LLC increased its position in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock worth $177,000 after buying an additional 21 shares during the period. Invictus RG increased its position in Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock worth $188,000 after buying an additional 1,449 shares during the period. Finally, Arcadia Investment Management Corp MI increased its position in Visa by 67.3% in the second quarter. Arcadia Investment Management Corp MI now owns 2,700 shares of the credit-card processor’s stock worth $200,000 after buying an additional 1,086 shares during the period. 80.08% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) traded up 0.75% during midday trading on Wednesday, reaching $83.35. The company had a trading volume of 6,163,375 shares. The company has a market capitalization of $196.70 billion, a P/E ratio of 35.42 and a beta of 0.95. The company has a 50-day moving average price of $81.88 and a 200 day moving average price of $79.00. Visa Inc. has a one year low of $66.12 and a one year high of $83.79.
Visa (NYSE:V) last issued its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. The company earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Visa had a return on equity of 22.36% and a net margin of 38.72%. Equities analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 19th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, August 17th. Visa’s dividend payout ratio is presently 24.35%.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and set a $95.00 price target on shares of Visa in a report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $87.00 price target on shares of Visa in a report on Tuesday, September 6th. Pacific Crest set a $92.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, September 14th. Finally, Barclays PLC raised their price target on Visa from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, September 12th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average target price of $88.69.
Visa Company Profile
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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