Turtle Creek Wealth Advisors LLC Grows Stock Position in Visa Inc. $V

Key Points

• Turtle Creek Wealth Advisors LLC increased its stake in Visa Inc. by 24.4% in the second quarter, owning 28,878 shares valued at approximately $10.25 million.
• Visa's CEO, Ryan Mcinerney, recently sold 10,485 shares, decreasing his ownership significantly, while the company is experiencing strong institutional interest with 82.15% of the stock owned by institutional investors.
• Visa declared a quarterly dividend of $0.59 per share, contributing to an annualized dividend of $2.36 and a dividend yield of 0.7%.

Turtle Creek Wealth Advisors LLC boosted its stake in Visa Inc. (NYSE:V - Free Report) by 24.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,878 shares of the credit-card processor's stock after acquiring an additional 5,659 shares during the quarter. Visa comprises about 1.2% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 20th largest holding. Turtle Creek Wealth Advisors LLC's holdings in Visa were worth $10,253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. WealthPlan Investment Management LLC boosted its holdings in Visa by 280.3% in the 2nd quarter. WealthPlan Investment Management LLC now owns 4,275 shares of the credit-card processor's stock worth $1,518,000 after acquiring an additional 3,151 shares during the period. Callahan Advisors LLC boosted its holdings in Visa by 4.1% in the 2nd quarter. Callahan Advisors LLC now owns 9,239 shares of the credit-card processor's stock worth $3,280,000 after acquiring an additional 360 shares during the period. Uptick Partners LLC boosted its holdings in Visa by 28.0% in the 2nd quarter. Uptick Partners LLC now owns 3,323 shares of the credit-card processor's stock worth $1,180,000 after acquiring an additional 726 shares during the period. Keeler & Nadler Financial Planning & Wealth Management boosted its holdings in Visa by 283.2% in the 2nd quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 2,962 shares of the credit-card processor's stock worth $1,052,000 after acquiring an additional 2,189 shares during the period. Finally, Dock Street Asset Management Inc. boosted its holdings in Visa by 3.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 164,210 shares of the credit-card processor's stock worth $58,303,000 after acquiring an additional 5,953 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

V stock opened at $341.90 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $626.63 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.03 and a beta of 0.90. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The stock's 50 day simple moving average is $344.30 and its 200 day simple moving average is $346.89.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.42 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given 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 of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on V. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, UBS Group reaffirmed a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $389.00.

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.

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