Visa Inc. $V Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp has reduced its stake in Visa by 1.0%, now holding approximately 1,568,196 shares valued at $556.8 million, making Visa its 21st largest investment.
• Multiple institutional investors, including UBS and Fjarde AP Fonden, have recently increased their holdings in Visa, reflecting continued confidence in the company.
• Visa's stock has a current average price target of $385.96, according to analysts, with ratings indicating a strong performance outlook.

Truist Financial Corp trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,568,196 shares of the credit-card processor's stock after selling 15,581 shares during the period. Visa makes up approximately 0.8% of Truist Financial Corp's investment portfolio, making the stock its 21st largest holding. Truist Financial Corp owned 0.08% of Visa worth $556,788,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Lakeridge Wealth Management LLC boosted its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after buying an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC boosted its stake in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after buying an additional 3,484 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after buying an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. boosted its stake in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Macquarie boosted their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Barclays restated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $385.96.

Insiders Place Their Bets

In other news, 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 transaction, the general counsel owned 11,925 shares of the company's stock, 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 through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Down 0.5%

NYSE:V opened at $345.97 on Friday. The stock's fifty day moving average price is $343.92 and its two-hundred day moving average price is $346.60. Visa Inc. has a 52-week low of $273.24 and a 52-week high of $375.51. 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 company has a market cap of $634.09 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90.

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

Visa Dividend Announcement

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

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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