Truist Financial Corp Sells 40,057 Shares of Visa Inc. (NYSE:V)

Truist Financial Corp trimmed its holdings in Visa Inc. (NYSE:V) by 2.3% in the 2nd quarter, Holdings Channel reports. The fund owned 1,737,374 shares of the credit-card processor’s stock after selling 40,057 shares during the quarter. Visa accounts for about 0.7% of Truist Financial Corp’s investment portfolio, making the stock its 27th biggest position. Truist Financial Corp’s holdings in Visa were worth $456,008,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors raised its holdings in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares during the last quarter. Capital World Investors lifted its position in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada reduced their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup dropped their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Visa Trading Down 0.1 %

Shares of Visa stock opened at $274.77 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $502.54 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The business has a 50-day moving average price of $271.45 and a 200-day moving average price of $273.11.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business earned $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

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.