Crossmark Global Holdings Inc. Grows Stock Position in Visa Inc. (NYSE:V)

Crossmark Global Holdings Inc. boosted its holdings in Visa Inc. (NYSE:V) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166,153 shares of the credit-card processor’s stock after acquiring an additional 7,520 shares during the period. Visa accounts for about 0.8% of Crossmark Global Holdings Inc.’s portfolio, making the stock its 14th largest holding. Crossmark Global Holdings Inc.’s holdings in Visa were worth $43,611,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. GUNN & Co INVESTMENT MANAGEMENT INC. increased its position in shares of Visa by 1,215.7% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock valued at $43,943,000 after acquiring an additional 155,957 shares during the last quarter. Brio Consultants LLC lifted its holdings in shares of Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after acquiring an additional 437 shares during the last quarter. Gilbert & Cook Inc. boosted its position in shares of Visa by 2.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after purchasing an additional 158 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in Visa by 0.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 17,812 shares of the credit-card processor’s stock valued at $4,637,000 after purchasing an additional 50 shares during the last quarter. Finally, Cozad Asset Management Inc. raised its position in Visa by 1.9% in the fourth quarter. Cozad Asset Management Inc. now owns 4,419 shares of the credit-card processor’s stock valued at $1,150,000 after purchasing an additional 84 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

V stock opened at $276.37 on Friday. The business has a 50 day moving average price of $265.67 and a 200 day moving average price of $273.12. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $505.46 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the business earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on V. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Piper Sandler lowered their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

Visa 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.