Truist Financial Corp Sells 193,481 Shares of Visa Inc. (NYSE:V)

Truist Financial Corp reduced its stake in Visa Inc. (NYSE:V) by 9.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,787,566 shares of the credit-card processor’s stock after selling 193,481 shares during the quarter. Visa makes up 0.7% of Truist Financial Corp’s portfolio, making the stock its 24th biggest position. Truist Financial Corp’s holdings in Visa were worth $465,393,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in V. Trifecta Capital Advisors LLC boosted its stake in shares of Visa by 2.7% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after purchasing an additional 536 shares in the last quarter. New Hampshire Trust increased its stake in Visa by 1.9% during the 3rd quarter. New Hampshire Trust now owns 13,944 shares of the credit-card processor’s stock valued at $3,207,000 after purchasing an additional 266 shares in the last quarter. CreativeOne Wealth LLC increased its stake in Visa by 2.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 20,518 shares of the credit-card processor’s stock valued at $4,720,000 after purchasing an additional 542 shares in the last quarter. B.O.S.S. Retirement Advisors LLC increased its stake in Visa by 10.8% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 11,960 shares of the credit-card processor’s stock valued at $2,751,000 after purchasing an additional 1,166 shares in the last quarter. Finally, Nikulski Financial Inc. increased its stake in Visa by 4.0% during the 3rd quarter. Nikulski Financial Inc. now owns 12,928 shares of the credit-card processor’s stock valued at $2,974,000 after purchasing an additional 499 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. Wedbush raised their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen began coverage on shares of Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price on the stock. Barclays boosted their target price on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday. Finally, Mizuho reissued a “neutral” rating and issued a $265.00 target price on shares of Visa in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Visa Price Performance

NYSE:V traded down $0.64 during trading hours on Friday, hitting $274.52. The company’s stock had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The business’s 50-day moving average is $279.24 and its two-hundred day moving average is $264.33. The company has a market capitalization of $504.16 billion, a PE ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold a total of 19,874 shares of company stock worth $5,506,827 in the last three months. 0.19% of the stock is currently owned by company insiders.

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.