Truvestments Capital LLC Purchases 111 Shares of Visa Inc. (NYSE:V)

Truvestments Capital LLC boosted its position in shares of Visa Inc. (NYSE:V) by 23.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 594 shares of the credit-card processor’s stock after acquiring an additional 111 shares during the quarter. Truvestments Capital LLC’s holdings in Visa were worth $188,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Riverstone Advisors LLC bought a new position in Visa in the 4th quarter worth about $217,000. Journey Strategic Wealth LLC grew its stake in Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Visa in the 4th quarter worth about $10,163,000. Copley Financial Group Inc. bought a new position in Visa in the 3rd quarter worth about $616,000. Finally, Calamos Wealth Management LLC grew its stake in Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after acquiring an additional 435 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company increased their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Visa Trading Up 0.3 %

NYSE V opened at $333.01 on Thursday. The company has a fifty day simple moving average of $337.35 and a two-hundred day simple moving average of $310.05. The stock has a market cap of $618.66 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s dividend payout ratio is currently 23.79%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 64,505 shares of company stock valued at $22,290,507 over the last 90 days. Insiders own 0.13% 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.