TruWealth Advisors LLC Acquires 877 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 11th, 2023

TruWealth Advisors LLC increased its stake in Visa Inc. (NYSE:V – Get Rating) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,307 shares of the credit-card processor’s stock after buying an additional 877 shares during the quarter. Visa makes up 1.2% of TruWealth Advisors LLC’s holdings, making the stock its 22nd biggest position. TruWealth Advisors LLC’s holdings in Visa were worth $12,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of V. Global Wealth Strategies & Associates bought a new position in shares of Visa during the fourth quarter worth about $26,000. JDM Financial Group LLC bought a new position in Visa in the fourth quarter worth approximately $29,000. McClarren Financial Advisors Inc. acquired a new stake in Visa in the 3rd quarter valued at $26,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Visa during the fourth quarter worth about $31,000. Finally, Cowa LLC purchased a new stake in Visa in the 3rd quarter valued at $29,000. 81.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. UBS Group reduced their target price on shares of Visa from $290.00 to $287.00 and set a “buy” rating for the company in a research note on Thursday, December 15th. Robert W. Baird boosted their target price on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, January 19th. Wolfe Research increased their price target on Visa from $240.00 to $255.00 in a research report on Thursday, January 5th. Jefferies Financial Group upped their price objective on Visa from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 18th. Finally, BMO Capital Markets lifted their target price on Visa from $249.00 to $253.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $259.11.

Insider Activity

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the sale, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the sale, the insider now owns 232,112 shares in the company, valued at $53,367,191.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,115 shares of company stock valued at $30,115,598. 0.21% of the stock is currently owned by insiders.

Visa Stock Up 0.2 %

V opened at $226.43 on Tuesday. The firm has a market capitalization of $425.91 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. Visa Inc. has a one year low of $174.60 and a one year high of $234.30. The company has a fifty day moving average price of $223.68 and a 200-day moving average price of $211.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Visa (NYSE:V – Get Rating) last announced its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.17. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. Visa’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share. Equities research analysts expect that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This is an increase from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.79%. Visa’s payout ratio is currently 25.17%.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).