Truist Financial Corp Has $556.79 Million Holdings in Visa Inc. $V

Truist Financial Corp lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,568,196 shares of the credit-card processor’s stock after selling 15,581 shares during the quarter. Visa makes up 0.8% of Truist Financial Corp’s portfolio, making the stock its 21st biggest position. Truist Financial Corp’s holdings in Visa were worth $556,788,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in Visa during the 1st quarter worth about $3,518,533,000. Vanguard Group Inc. increased its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP increased its holdings in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Visa during the 1st quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. UBS Group restated a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Visa Trading Down 0.5%

Visa stock opened at $345.97 on Friday. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $634.09 billion, a P/E ratio of 33.79, a PEG ratio of 2.06 and a beta of 0.90. The stock has a 50-day simple moving average of $343.92 and a 200 day simple moving average of $346.60.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the company posted $2.42 earnings per share. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

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.