Visa Inc. $V Shares Purchased by Cross Staff Investments Inc

Cross Staff Investments Inc lifted its holdings in Visa Inc. (NYSE:V) by 6.6% during the second quarter, Holdings Channel reports. The fund owned 6,809 shares of the credit-card processor’s stock after buying an additional 423 shares during the quarter. Visa makes up 1.7% of Cross Staff Investments Inc’s holdings, making the stock its 12th largest holding. Cross Staff Investments Inc’s holdings in Visa were worth $2,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa in the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Visa in the 1st quarter valued at about $27,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC raised its stake in shares of Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $348.39 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $344.01 and a two-hundred day moving average price of $346.98. Visa Inc. has a twelve month low of $278.35 and a twelve month high of $375.51. The company has a market capitalization of $638.53 billion, a P/E ratio of 34.02, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 earnings per share. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s payout ratio is 23.05%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on V. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $389.00.

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.