Cullinan Associates Inc. Buys 36,324 Shares of Visa Inc. (NYSE:V)

Cullinan Associates Inc. boosted its position in Visa Inc. (NYSE:V) by 129.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,365 shares of the credit-card processor’s stock after acquiring an additional 36,324 shares during the quarter. Visa accounts for 1.0% of Cullinan Associates Inc.’s holdings, making the stock its 26th largest holding. Cullinan Associates Inc.’s holdings in Visa were worth $17,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in Visa during the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new stake in Visa in the fourth quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Visa during the fourth quarter worth about $37,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $268.16 on Wednesday. The firm has a market cap of $490.45 billion, a price-to-earnings ratio of 29.96, a P/E/G ratio of 1.80 and a beta of 0.95. The firm has a fifty day moving average price of $273.70 and a 200 day moving average price of $273.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (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 during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter last year, the firm earned $2.09 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on V. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Mizuho raised their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Macquarie upped their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. UBS Group raised their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $303.56.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

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.