Visa Inc. (NYSE:V) Shares Acquired by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc boosted its holdings in Visa Inc. (NYSE:V) by 28.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,814 shares of the credit-card processor’s stock after acquiring an additional 623 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Visa were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of Visa in the first quarter valued at $1,212,000. Absolute Capital Management LLC purchased a new position in Visa in the 1st quarter valued at about $404,000. Davidson Capital Management Inc. boosted its stake in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares in the last quarter. Finally, Arjuna Capital grew its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V opened at $275.17 on Friday. The company has a market capitalization of $503.27 billion, a P/E ratio of 30.75, a PEG ratio of 1.92 and a beta of 0.96. The company has a 50-day moving average of $271.31 and a 200-day moving average of $273.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

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 transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on V shares. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Macquarie reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Friday. Finally, Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $310.22.

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.