Truist Financial Corp Lowers Stock Holdings in Visa Inc. (NYSE:V)

Truist Financial Corp lessened its position in shares of Visa Inc. (NYSE:V) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,787,566 shares of the credit-card processor’s stock after selling 193,481 shares during the period. Visa makes up 0.7% of Truist Financial Corp’s portfolio, making the stock its 24th biggest position. Truist Financial Corp owned about 0.10% of Visa worth $465,393,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Investment Advisory Services Inc. TX ADV lifted its stake in shares of Visa by 2.0% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares in the last quarter. Nadler Financial Group Inc. lifted its stake in shares of Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new position in shares of Visa during the fourth quarter worth about $216,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of Visa during the fourth quarter worth about $3,427,000. Finally, Wayfinding Financial LLC lifted its stake in shares of Visa by 10.1% during the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.2 %

Shares of V traded down $0.64 during mid-day trading on Friday, reaching $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 has a fifty day moving average of $279.24 and a 200 day moving average of $264.33. The company has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. As a group, analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have commented on V. Citigroup boosted their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday. Macquarie boosted their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday. UBS Group boosted their price target on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, KeyCorp boosted their price target on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, January 8th. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,874 shares of company stock valued at $5,506,827. Insiders own 0.19% of the company’s stock.

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.