Visa Inc. (NYSE:V) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in Visa Inc. (NYSE:V - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 portfolio, making the stock its 18th biggest holding. Truist Financial Corp owned approximately 0.09% of Visa worth $555,050,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in V. Sellwood Investment Partners LLC purchased a new position in shares of Visa during the 4th quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa during the 4th quarter worth about $47,000. Measured Risk Portfolios Inc. purchased a new position in Visa during the 4th quarter valued at $47,000. O Brien Wealth Partners LLC purchased a new position in Visa during the 1st quarter valued at $54,000. Finally, Global X Japan Co. Ltd. purchased a new position in Visa during the 1st quarter valued at $56,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.6%

Shares of NYSE V traded down $2.20 during mid-day trading on Thursday, reaching $355.56. 6,115,751 shares of the company were exchanged, compared to its average volume of 6,837,809. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $656.07 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 2.40 and a beta of 0.92. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm has a 50-day moving average of $356.66 and a 200 day moving average of $342.11.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on V. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Barclays restated an "overweight" rating on shares of Visa in a report on Friday, June 13th. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Finally, BMO Capital Markets boosted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This 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 accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 in the last ninety days. Corporate insiders own 0.13% of the company's stock.

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.