Trueblood Wealth Management LLC Raises Holdings in Visa Inc. $V

Trueblood Wealth Management LLC lifted its position in Visa Inc. (NYSE:V) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,724 shares of the credit-card processor’s stock after purchasing an additional 767 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Visa were worth $1,677,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the second quarter valued at $28,000. Cranbrook Wealth Management LLC grew its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in shares of Visa in the 1st quarter worth $38,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Visa

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

Visa Price Performance

V opened at $346.66 on Friday. The business has a fifty day moving average of $343.68 and a 200 day moving average of $346.98. The stock has a market cap of $635.36 billion, a P/E ratio of 33.85, a PEG ratio of 2.08 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $275.35 and a 52-week high of $375.51.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is 23.05%.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Truist Financial lowered their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $389.00.

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.