TruWealth Advisors LLC Acquires 10,163 Shares of Visa Inc. $V

Key Points

• TruWealth Advisors LLC increased its holdings in Visa Inc. by 17.9%, acquiring an additional 10,163 shares, bringing its total to 66,874 shares, valued at approximately $23.74 million.
• Visa recently declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend of $2.36 and a 0.7% dividend yield.
• Visa's stock opened at $339.33, with recent earnings per share reported at $2.98, surpassing analysts' expectations of $2.85.

TruWealth Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,874 shares of the credit-card processor's stock after acquiring an additional 10,163 shares during the period. Visa makes up 1.3% of TruWealth Advisors LLC's investment portfolio, making the stock its 25th largest holding. TruWealth Advisors LLC's holdings in Visa were worth $23,743,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Yeomans Consulting Group Inc. grew its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC increased its holdings in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares in the last quarter. Headinvest LLC raised its position in shares of Visa by 0.8% in the 4th 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 last quarter. Kennebec Savings Bank boosted its stake in Visa by 0.9% in the 1st 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 in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in Visa by 0.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer 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 own 0.13% of the company's stock.

Visa Stock Down 1.2%

V stock opened at $339.33 on Friday. The company has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a P/E/G 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 business's 50-day moving average is $347.03 and its two-hundred day moving average is $346.92. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results 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 return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the company posted $2.42 EPS. The business's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

V has been the subject of a number of analyst reports. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Barclays reissued an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average price target of $385.96.

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.

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