Pure Financial Advisors LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Pure Financial Advisors LLC trimmed its position in Visa Inc. (NYSE:V) by 5.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,366 shares of the credit-card processor’s stock after selling 264 shares during the quarter. Pure Financial Advisors LLC’s holdings in Visa were worth $1,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Dash Acquisitions Inc. lifted its holdings in shares of Visa by 9.6% in the 2nd quarter. Dash Acquisitions Inc. now owns 70,621 shares of the credit-card processor’s stock valued at $19,258,000 after buying an additional 6,190 shares during the period. Miracle Mile Advisors LLC raised its position in Visa by 1.7% during the second quarter. Miracle Mile Advisors LLC now owns 24,787 shares of the credit-card processor’s stock valued at $6,506,000 after acquiring an additional 404 shares in the last quarter. Hayek Kallen Investment Management lifted its holdings in Visa by 0.9% in the second quarter. Hayek Kallen Investment Management now owns 21,763 shares of the credit-card processor’s stock valued at $5,712,000 after acquiring an additional 192 shares during the period. JLB & Associates Inc. boosted its position in Visa by 2.0% in the 2nd quarter. JLB & Associates Inc. now owns 10,495 shares of the credit-card processor’s stock worth $2,755,000 after purchasing an additional 205 shares in the last quarter. Finally, Winthrop Advisory Group LLC grew its stake in shares of Visa by 2.8% during the 2nd quarter. Winthrop Advisory Group LLC now owns 9,180 shares of the credit-card processor’s stock worth $2,409,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. Wedbush boosted their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Citigroup dropped their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $307.25.

Visa Price Performance

Shares of NYSE:V traded up $0.58 during midday trading on Friday, hitting $267.38. The company had a trading volume of 5,111,080 shares, compared to its average volume of 7,227,860. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The stock has a market cap of $489.02 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day simple moving average is $266.41 and its 200-day simple moving average is $273.59.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $2.16 EPS. On average, research analysts predict that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa Profile

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.