Thurston Springer Miller Herd & Titak Inc. Has $1.96 Million Position in Visa Inc. $V

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in Visa Inc. by 23.2% in Q2, bringing its total holdings to 5,515 shares valued at $1.96 million.
• Visa reported an EPS of $2.98 for its latest quarter, exceeding analysts' expectations of $2.85 and showing a 14.3% year-over-year revenue growth to $10.17 billion.
• Several analysts maintain a bullish outlook on Visa, with a majority giving it a "Buy" rating and price targets ranging from $397 to $425.

Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 23.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,515 shares of the credit-card processor's stock after buying an additional 1,037 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Visa were worth $1,960,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Salem Investment Counselors Inc. raised its position in Visa by 0.8% in the second quarter. Salem Investment Counselors Inc. now owns 79,074 shares of the credit-card processor's stock worth $28,075,000 after purchasing an additional 640 shares in the last quarter. Peterson Wealth Advisors LLC acquired a new position in Visa in the second quarter worth about $223,000. TruWealth Advisors LLC raised its position in Visa by 17.9% in the second quarter. TruWealth Advisors LLC now owns 66,874 shares of the credit-card processor's stock worth $23,743,000 after purchasing an additional 10,163 shares in the last quarter. RB Capital Management LLC raised its position in Visa by 1.1% in the second quarter. RB Capital Management LLC now owns 26,863 shares of the credit-card processor's stock worth $9,538,000 after purchasing an additional 288 shares in the last quarter. Finally, Garde Capital Inc. raised its position in Visa by 3.8% in the second quarter. Garde Capital Inc. now owns 2,640 shares of the credit-card processor's stock worth $937,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Price Performance

Shares of V stock opened at $339.33 on Friday. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The stock has a market cap of $621.92 billion, a PE ratio of 33.14, a PEG ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm's 50 day moving average price is $347.03 and its two-hundred day moving average price is $346.92.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 for the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the firm earned $2.42 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group reissued a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $385.96.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on 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 owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Company 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.

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