Cullen Frost Bankers Inc. Sells 8,497 Shares of Visa Inc. (NYSE:V)

Cullen Frost Bankers Inc. lowered its holdings in shares of Visa Inc. (NYSE:V) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 366,281 shares of the credit-card processor’s stock after selling 8,497 shares during the period. Visa makes up about 1.5% of Cullen Frost Bankers Inc.’s holdings, making the stock its 9th biggest position. Cullen Frost Bankers Inc.’s holdings in Visa were worth $95,361,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nadler Financial Group Inc. increased its stake in shares of Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new stake in Visa in the fourth quarter worth $216,000. Andrew Hill Investment Advisors Inc. bought a new stake in Visa in the fourth quarter valued at $3,427,000. Wayfinding Financial LLC increased its stake in Visa by 10.1% in the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after purchasing an additional 161 shares in the last quarter. Finally, Richelieu Gestion SA acquired a new position in shares of Visa during the fourth quarter valued at about $307,000. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold 11,724 shares of company stock valued at $3,278,698 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. KeyCorp upped their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. TD Cowen began coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Susquehanna upped their price objective on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Finally, Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $303.00.

Visa Stock Performance

Shares of Visa stock traded up $3.98 during trading hours on Tuesday, hitting $276.65. 6,376,783 shares of the company’s stock traded hands, compared to its average volume of 5,887,064. The company has a fifty day simple moving average of $277.81 and a 200-day simple moving average of $266.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $505.98 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.84 and a beta of 0.95. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

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.