Pure Portfolios Holdings LLC Invests $334,000 in Visa Inc. (NYSE:V)

Pure Portfolios Holdings LLC bought a new position in shares of Visa Inc. (NYSE:V) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,216 shares of the credit-card processor’s stock, valued at approximately $334,000.

Several other hedge funds have also modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the last quarter. National Bank of Canada FI raised its position in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new position in shares of Visa during the 1st quarter worth about $511,321,000. GQG Partners LLC raised its position in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

V has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and set a $322.00 price target on shares of Visa in a research report on Wednesday, September 25th. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective for the company. Finally, Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Stock Performance

NYSE:V opened at $290.62 on Monday. 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 fifty-two week low of $228.03 and a fifty-two week high of $293.07. The stock has a market capitalization of $531.53 billion, a P/E ratio of 32.47, a PEG ratio of 2.00 and a beta of 0.96. The company has a 50 day moving average price of $276.91 and a 200 day moving average price of $272.88.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is presently 23.24%.

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.