Truist Financial Corp Has $555.05 Million Position in Visa Inc. (NYSE:V)

Truist Financial Corp lowered its position in Visa Inc. (NYSE:V - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,583,777 shares of the credit-card processor's stock after selling 13,640 shares during the quarter. Visa accounts for 0.9% of Truist Financial Corp's investment portfolio, making the stock its 18th biggest position. Truist Financial Corp owned 0.09% of Visa worth $555,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC lifted its position in Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC lifted its position in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after purchasing an additional 29 shares during the period. Capstone Financial Advisors Inc. lifted its position in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after purchasing an additional 30 shares during the period. Headinvest LLC lifted its position in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after purchasing an additional 30 shares during the period. Finally, Kennebec Savings Bank lifted its position in Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

V has been the topic of several recent research reports. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Finally, Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target on the stock. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Stock Down 0.6%

NYSE:V traded down $2.21 during trading hours on Monday, reaching $356.65. The company's stock had a trading volume of 5,135,922 shares, compared to its average volume of 6,843,613. The company has a market cap of $658.08 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The business's 50-day moving average is $355.79 and its 200-day moving average is $341.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 earnings per share. Equities research analysts predict 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 Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were 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 in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

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.