Visa Inc. (NYSE:V) Stake Raised by Purus Wealth Management LLC

Purus Wealth Management LLC grew its stake in shares of Visa Inc. (NYSE:V) by 4.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 24,408 shares of the credit-card processor’s stock after acquiring an additional 1,121 shares during the period. Visa makes up approximately 2.8% of Purus Wealth Management LLC’s portfolio, making the stock its 8th largest position. Purus Wealth Management LLC’s holdings in Visa were worth $6,406,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brio Consultants LLC boosted its position in shares of Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after buying an additional 437 shares in the last quarter. Gilbert & Cook Inc. boosted its position in shares of Visa by 2.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after buying an additional 158 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of Visa by 9.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after buying an additional 235 shares in the last quarter. 9258 Wealth Management LLC boosted its position in shares of Visa by 20.8% in the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock worth $2,094,000 after buying an additional 1,387 shares in the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in Visa by 53.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after purchasing an additional 4,774 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several analyst reports. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Bank of America boosted their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price 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. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Stock Up 0.4 %

V opened at $291.61 on Wednesday. The company has a market cap of $533.34 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The firm has a 50 day moving average price of $269.30 and a 200 day moving average price of $273.27. 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 (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 EPS. Sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared 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 0.71%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

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.