Trueblood Wealth Management LLC Buys 1,343 Shares of Visa Inc. (NYSE:V)

Trueblood Wealth Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 51.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,957 shares of the credit-card processor’s stock after purchasing an additional 1,343 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Visa were worth $1,387,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa in the 4th quarter worth approximately $27,000. POM Investment Strategies LLC increased its holdings in shares of 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 purchasing an additional 32 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Visa in the fourth quarter worth $32,000. NewSquare Capital LLC purchased a new stake in shares of Visa in the fourth quarter worth $35,000. Finally, FPC Investment Advisory Inc. boosted its stake in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of Visa stock opened at $370.89 on Wednesday. The company’s fifty day simple moving average is $346.49 and its two-hundred day simple moving average is $336.52. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.44. The firm has a market cap of $684.35 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 earnings per share. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Truist Financial assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target for the company. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

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.