Visa Inc. (NYSE:V) Shares Purchased by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC lifted its stake in Visa Inc. (NYSE:V - Free Report) by 30.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,219 shares of the credit-card processor's stock after purchasing an additional 5,391 shares during the period. Visa accounts for approximately 1.2% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 22nd largest position. Turtle Creek Wealth Advisors LLC's holdings in Visa were worth $8,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its holdings in Visa by 8.3% in the 1st quarter. Bleakley Financial Group LLC now owns 52,287 shares of the credit-card processor's stock worth $18,325,000 after buying an additional 4,011 shares during the period. Zullo Investment Group Inc. boosted its holdings in Visa by 1.3% in the 1st quarter. Zullo Investment Group Inc. now owns 7,356 shares of the credit-card processor's stock worth $2,578,000 after buying an additional 93 shares during the period. Legacy Financial Group Inc. boosted its holdings in shares of Visa by 97.1% during the 1st quarter. Legacy Financial Group Inc. now owns 2,083 shares of the credit-card processor's stock valued at $694,000 after purchasing an additional 1,026 shares during the last quarter. Prudent Man Advisors LLC boosted its holdings in shares of Visa by 1.3% during the 1st quarter. Prudent Man Advisors LLC now owns 4,201 shares of the credit-card processor's stock valued at $1,472,000 after purchasing an additional 55 shares during the last quarter. Finally, LRI Investments LLC boosted its holdings in shares of Visa by 2.8% during the 1st quarter. LRI Investments LLC now owns 31,327 shares of the credit-card processor's stock valued at $10,979,000 after purchasing an additional 862 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

V traded down $3.42 on Tuesday, reaching $347.09. 4,887,324 shares of the company's stock were exchanged, compared to its average volume of 6,809,956. The stock has a market cap of $640.43 billion, a PE ratio of 34.88, a P/E/G ratio of 2.36 and a beta of 0.92. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The stock's fifty day moving average price is $356.96 and its 200-day moving average price is $343.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective on the stock. Barclays reissued an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. 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's stock. According to MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's 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 of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $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 a total of 101,108 shares of company stock valued at $36,771,200 in the last ninety days. Company insiders own 0.13% of the company's stock.

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.