Truepoint Inc. Acquires 145 Shares of Visa Inc. (NYSE:V)

Truepoint Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,009 shares of the credit-card processor’s stock after purchasing an additional 145 shares during the quarter. Truepoint Inc.’s holdings in Visa were worth $552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Unionview LLC boosted its position in shares of Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after buying an additional 33 shares during the period. St. Louis Trust Co boosted its holdings in Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after purchasing an additional 34 shares during the period. FWG Holdings LLC boosted its holdings in Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after purchasing an additional 34 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the period. Finally, Iron Horse Wealth Management LLC boosted its holdings in Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $309.92 on Friday. The business’s 50 day simple moving average is $289.52 and its 200-day simple moving average is $277.34. The firm has a market capitalization of $577.34 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $312.44.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.33 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Analyst Ratings Changes

A number of analysts have weighed in on V shares. Susquehanna raised their price target on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% 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.