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.
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.
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.
COPYRIGHT VIOLATION WARNING: This story was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.chaffeybreeze.com/2018/04/16/crossmark-global-holdings-inc-purchases-10665-shares-of-visa-v.html.
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.
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.