Visa Inc. (NYSE:V) Shares Bought by TruWealth Advisors LLC

TruWealth Advisors LLC lifted its stake in Visa Inc. (NYSE:V - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,711 shares of the credit-card processor's stock after purchasing an additional 1,164 shares during the period. Visa accounts for approximately 1.2% of TruWealth Advisors LLC's holdings, making the stock its 28th largest position. TruWealth Advisors LLC's holdings in Visa were worth $19,874,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Veracity Capital LLC raised its position in shares of Visa by 2.1% during the first quarter. Veracity Capital LLC now owns 3,137 shares of the credit-card processor's stock valued at $1,099,000 after buying an additional 64 shares during the last quarter. Nixon Peabody Trust Co. lifted its stake in Visa by 13.2% in the 1st quarter. Nixon Peabody Trust Co. now owns 2,403 shares of the credit-card processor's stock worth $842,000 after purchasing an additional 281 shares in the last quarter. Firethorn Wealth Partners LLC boosted its holdings in shares of Visa by 7.2% during the 1st quarter. Firethorn Wealth Partners LLC now owns 1,663 shares of the credit-card processor's stock valued at $583,000 after purchasing an additional 112 shares during the last quarter. Northside Capital Management LLC grew its position in shares of Visa by 0.5% during the first quarter. Northside Capital Management LLC now owns 14,197 shares of the credit-card processor's stock valued at $4,976,000 after purchasing an additional 77 shares in the last quarter. Finally, Floyd Financial Group LLC increased its holdings in shares of Visa by 1.9% in the first quarter. Floyd Financial Group LLC now owns 3,117 shares of the credit-card processor's stock worth $1,092,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.4%

Shares of NYSE V traded down $1.33 during midday trading on Thursday, hitting $366.67. The company's stock had a trading volume of 6,876,674 shares, compared to its average volume of 7,004,727. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $676.56 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The business's fifty day simple moving average is $344.66 and its two-hundred day simple moving average is $334.72. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $372.43.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.51 earnings per share. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa's payout ratio is currently 23.72%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. The trade was a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,948 shares of company stock worth $41,546,299. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday. They set a "neutral" rating for the company. Finally, Truist Financial began coverage on Visa in a research report on Monday. They set a "buy" rating and a $400.00 price target for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $372.80.

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.