TruNorth Capital Management LLC boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 948.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,783 shares of the credit-card processor's stock after acquiring an additional 1,613 shares during the period. TruNorth Capital Management LLC's holdings in Visa were worth $625,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC raised its position in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after buying an additional 29 shares during the last quarter. FWL Investment Management LLC raised its position in shares of Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. raised its position in shares of Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares during the last quarter. Headinvest LLC raised its position in shares of Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the last quarter. Finally, Kennebec Savings Bank raised its position in shares of Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Activity
In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 537 shares in the company, valued at $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. Insiders have sold 101,108 shares of company stock valued at $36,771,200 over the last three months. 0.13% of the stock is owned by insiders.
Visa Price Performance
Shares of Visa stock opened at $347.71 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.36 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's 50-day moving average price is $356.93 and its two-hundred day moving average price is $342.86.
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 for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for 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%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is currently 23.72%.
Wall Street Analyst Weigh In
V has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Piper Sandler upped their price objective on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Five 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.
Read Our Latest Analysis on Visa
Visa Company Profile
(
Free Report)
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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