Crossmark Global Holdings Inc. Purchases 10,665 Shares of Visa (V)

Crossmark Global Holdings Inc. raised its position in shares of Visa (NYSE:V) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 222,208 shares of the credit-card processor’s stock after purchasing an additional 10,665 shares during the quarter. Visa accounts for approximately 0.6% of Crossmark Global Holdings Inc.’s holdings, making the stock its 23rd biggest position. Crossmark Global Holdings Inc.’s holdings in Visa were worth $25,336,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Beach Point Capital Management LP bought a new position in shares of Visa during the 3rd quarter valued at approximately $5,736,000. Calamos Wealth Management LLC grew its stake in shares of Visa by 186.5% during the 3rd quarter. Calamos Wealth Management LLC now owns 68,524 shares of the credit-card processor’s stock valued at $7,211,000 after acquiring an additional 44,609 shares during the period. Meyer Handelman Co. grew its stake in shares of Visa by 38.3% during the 3rd quarter. Meyer Handelman Co. now owns 22,124 shares of the credit-card processor’s stock valued at $2,329,000 after acquiring an additional 6,124 shares during the period. Ramsay Stattman Vela & Price Inc. grew its stake in shares of Visa by 2.9% during the 3rd quarter. Ramsay Stattman Vela & Price Inc. now owns 35,137 shares of the credit-card processor’s stock valued at $3,698,000 after acquiring an additional 985 shares during the period. Finally, Stock Yards Bank & Trust Co. grew its stake in shares of Visa by 5.0% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 192,993 shares of the credit-card processor’s stock valued at $20,311,000 after acquiring an additional 9,142 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.

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In related news, EVP Lynne Biggar sold 1,712 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

A number of research firms recently commented on V. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Credit Suisse Group set a $129.00 price target on Visa and gave the stock a “buy” rating in a report on Monday, January 8th. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $121.05 price target on the stock. in a report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $141.00 price target on shares of Visa in a report on Friday, December 22nd. Finally, Cowen reissued a “buy” rating and issued a $129.00 price target on shares of Visa in a report on Friday, January 12th. Two analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $135.19.

NYSE:V opened at $120.75 on Monday. Visa has a fifty-two week low of $88.75 and a fifty-two week high of $126.88. The firm has a market cap of $249,469.23, a P/E ratio of 34.70, a P/E/G ratio of 1.59 and a beta of 0.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. Visa’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts forecast that Visa will post 4.39 EPS for the current year.

Visa announced that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $7.50 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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