Turtle Creek Wealth Advisors LLC Purchases 2,914 Shares of Visa Inc. $V

Turtle Creek Wealth Advisors LLC lifted its position in shares of Visa Inc. (NYSE:VFree Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,931 shares of the credit-card processor’s stock after purchasing an additional 2,914 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Visa were worth $13,580,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Visa during the 4th quarter valued at approximately $5,877,738,000. Cardano Risk Management B.V. lifted its holdings in Visa by 867.6% in the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after buying an additional 7,364,762 shares during the period. Diamant Asset Management Inc. grew its position in shares of Visa by 29,706.3% in the 1st quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock worth $2,216,310,000 after buying an additional 7,308,345 shares during the last quarter. J. Stern & Co. LLP grew its position in shares of Visa by 12,497.1% in the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after buying an additional 3,351,223 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Visa by 48.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after acquiring an additional 2,116,463 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $361.31 on Friday. The company has a market capitalization of $648.10 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $327.17 and a 200 day moving average of $324.90. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $362.13.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same period in the previous year, the business earned $2.76 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa declared that its board has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Insider Transactions at Visa

In other news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 73,554 shares of company stock valued at $24,898,255. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on V shares. Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Piper Sandler initiated coverage on shares of Visa in a report on Monday, June 29th. They set an “overweight” rating and a $394.00 target price on the stock. Finally, Evercore set a $350.00 target price on shares of Visa in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $397.96.

View Our Latest Report on V

Key Stories Impacting Visa

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Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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