TruWealth Advisors LLC Grows Holdings in Visa Inc. (NYSE:V)

TruWealth Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 54,638 shares of the credit-card processor’s stock after acquiring an additional 1,307 shares during the period. TruWealth Advisors LLC’s holdings in Visa were worth $15,023,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares during the period. National Bank of Canada FI lifted its stake in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after acquiring an additional 4,099,122 shares during the period. Swedbank AB bought a new position in Visa during the 1st quarter worth about $511,321,000. GQG Partners LLC grew its holdings in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. increased its position in Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.0 %

V stock opened at $290.38 on Friday. The company has a market capitalization of $531.09 billion, a P/E ratio of 32.44, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The firm’s fifty day simple moving average is $276.30 and its 200-day simple moving average is $272.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird lifted their price target on Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets boosted their price target on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group dropped their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Oppenheimer assumed coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

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.