tru Independence LLC Acquires New Position in Visa Inc. (NYSE:V)

tru Independence LLC bought a new position in shares of Visa Inc. (NYSE:V) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 654 shares of the credit-card processor’s stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of the stock. Peterson Financial Group Inc. purchased a new position in Visa during the 3rd quarter worth approximately $26,000. Decker Retirement Planning Inc. purchased a new position in shares of Visa during the fourth quarter worth $26,000. Reston Wealth Management LLC acquired a new position in Visa during the third quarter valued at $31,000. Modus Advisors LLC acquired a new position in Visa during the fourth quarter valued at $32,000. Finally, West Financial Advisors LLC grew its position in Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.6 %

Shares of Visa stock opened at $336.45 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $315.85 and a 200 day moving average price of $291.78. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $337.83. The firm has a market cap of $626.76 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.17 and a beta of 0.96.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Susquehanna boosted their price objective on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Jefferies Financial Group boosted their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America raised their price target on shares of Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $335.52.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the company’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 sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% 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.