Truist Financial Corp lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,597,417 shares of the credit-card processor's stock after purchasing an additional 818 shares during the quarter. Visa comprises about 0.8% of Truist Financial Corp's investment portfolio, making the stock its 23rd largest holding. Truist Financial Corp owned 0.09% of Visa worth $504,848,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Decker Retirement Planning Inc. bought a new stake in Visa in the fourth quarter worth about $26,000. Peterson Financial Group Inc. bought a new stake in Visa in the third quarter worth about $26,000. POM Investment Strategies LLC raised its position in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Modus Advisors LLC bought a new stake in Visa in the fourth quarter worth about $32,000. Finally, Reston Wealth Management LLC bought a new stake in Visa in the third quarter worth about $31,000. 82.15% of the stock is currently owned by institutional investors.
In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company's stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares of the company's stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,056 shares of company stock valued at $19,830,050 over the last 90 days. 0.13% of the stock is currently owned by company insiders.
Shares of NYSE V opened at $354.95 on Thursday. The stock has a market cap of $659.42 billion, a price-to-earnings ratio of 35.78, a PEG ratio of 2.35 and a beta of 0.97. The business has a 50 day simple moving average of $327.75 and a 200 day simple moving average of $301.05. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's payout ratio is currently 23.79%.
Several equities research analysts have commented on the stock. TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. UBS Group lifted their price target on Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods lifted their price target on Visa from $360.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada lifted their price target on Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $354.73.
View Our Latest Analysis on V
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.