Trueblood Wealth Management LLC Purchases 767 Shares of Visa Inc. $V

Key Points

• Trueblood Wealth Management LLC increased its holdings in Visa Inc. by 19.4% during the second quarter, now owning 4,724 shares valued at approximately $1,677,000.
• CEO Ryan Mcinerney sold 10,485 shares of Visa stock at a total value of $3,589,015.50, resulting in a 95.13% decrease in his ownership.
• Visa recently announced a quarterly dividend of $0.59 per share, representing an annualized yield of 0.7% with a current payout ratio of 23.05%.

Trueblood Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,724 shares of the credit-card processor's stock after acquiring an additional 767 shares during the quarter. Trueblood Wealth Management LLC's holdings in Visa were worth $1,677,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Northern Trust Corp lifted its position in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after purchasing an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Trading Down 1.3%

Shares of NYSE:V opened at $346.66 on Friday. The stock has a 50 day moving average of $343.68 and a 200 day moving average of $346.98. The company has a market cap of $635.36 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. Visa Inc. has a 12-month low of $275.35 and a 12-month high of $375.51. 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 (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.42 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on V shares. Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on Visa and gave the stock an "outperform" rating in a research report on Monday. Barclays restated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average price target of $389.00.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.