Texas Capital Bank Wealth Management Services Inc Acquires 3,260 Shares of Visa Inc. $V

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Texas Capital Bank Wealth Management Services Inc boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 78.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,437 shares of the credit-card processor's stock after acquiring an additional 3,260 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Visa were worth $2,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lakeridge Wealth Management LLC lifted its holdings in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa in the 4th quarter worth $306,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Finally, Eagle Strategies LLC increased its stake in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after purchasing an additional 63 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.5%

Shares of NYSE:V opened at $342.81 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $265.23 and a 12 month high of $375.51. The company has a 50-day moving average price of $349.69 and a 200 day moving average price of $347.45. The company has a market cap of $628.30 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on V shares. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. UBS Group restated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $380.84.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by insiders.

About Visa

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.

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