TruWealth Advisors LLC Boosts Position in Visa Inc. (NYSE:V)

TruWealth Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,638 shares of the credit-card processor’s stock after purchasing an additional 1,307 shares during the period. TruWealth Advisors LLC’s holdings in Visa were worth $15,023,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC bought a new position in shares of Visa in the 1st quarter worth about $25,000. POM Investment Strategies LLC raised its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa in the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on V shares. JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Morgan Stanley restated an “overweight” rating and set a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Finally, TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Up 1.0 %

V opened at $290.38 on Friday. The firm has a 50-day simple moving average of $276.30 and a two-hundred day simple moving average of $272.86. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a market capitalization of $531.09 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $8.92 billion. During the same period in the previous year, the firm posted $2.16 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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.