Visa Inc. $V Shares Acquired by PUREfi Wealth LLC

PUREfi Wealth LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,944 shares of the credit-card processor’s stock after purchasing an additional 186 shares during the quarter. Visa comprises about 1.1% of PUREfi Wealth LLC’s investment portfolio, making the stock its 16th largest position. PUREfi Wealth LLC’s holdings in Visa were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Keystone Global Partners LLC purchased a new stake in shares of Visa in the 1st quarter worth about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Visa in the 1st quarter worth about $38,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Visa stock opened at $351.31 on Thursday. The stock has a market capitalization of $643.88 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.09 and a beta of 0.90. Visa Inc. has a 12-month low of $274.42 and a 12-month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day moving average is $343.66 and its two-hundred day moving average is $346.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on V. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an “outperform” rating in a report on Monday. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley raised their price target on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

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.