Cross Staff Investments Inc Has $1.55 Million Position in Visa Inc. (NYSE:V)

Cross Staff Investments Inc grew its holdings in Visa Inc. (NYSE:V) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,917 shares of the credit-card processor’s stock after buying an additional 132 shares during the quarter. Visa comprises approximately 1.3% of Cross Staff Investments Inc’s portfolio, making the stock its 21st largest holding. Cross Staff Investments Inc’s holdings in Visa were worth $1,553,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at approximately $3,895,015,000. National Bank of Canada FI raised its position in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new position in Visa during the 1st quarter worth $511,321,000. GQG Partners LLC boosted its position in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after buying an additional 1,489,856 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is currently owned by insiders.

Visa Price Performance

V stock opened at $279.37 on Friday. The stock has a 50-day moving average price of $266.53 and a two-hundred day moving average price of $273.13. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The stock has a market cap of $509.10 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. Equities analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Analysts Set New Price Targets

V has been the topic of several research reports. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

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.