Cullen Frost Bankers Inc. Sells 1,711 Shares of Visa Inc. (NYSE:V)

Cullen Frost Bankers Inc. reduced its stake in Visa Inc. (NYSE:V) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 354,164 shares of the credit-card processor’s stock after selling 1,711 shares during the quarter. Visa comprises 1.5% of Cullen Frost Bankers Inc.’s holdings, making the stock its 13th largest position. Cullen Frost Bankers Inc.’s holdings in Visa were worth $111,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Riverstone Advisors LLC bought a new position in Visa in the 4th quarter valued at about $217,000. Journey Strategic Wealth LLC increased its holdings in shares of Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the period. Copley Financial Group Inc. bought a new position in shares of Visa during the third quarter worth approximately $616,000. Calamos Wealth Management LLC increased its holdings in shares of Visa by 0.6% during the fourth quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after purchasing an additional 435 shares during the period. Finally, Oak Ridge Investments LLC increased its holdings in shares of Visa by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after purchasing an additional 4,198 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,505 shares of company stock worth $22,290,507. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Susquehanna raised their target price on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, UBS Group raised their target price on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Performance

Shares of Visa stock opened at $352.18 on Thursday. The firm has a market capitalization of $654.27 billion, a P/E ratio of 35.50, a P/E/G ratio of 2.33 and a beta of 0.95. The company’s 50 day moving average price is $335.17 and its two-hundred day moving average price is $307.55. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

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.