Purkiss Capital Advisors LLC Has $2.78 Million Stock Position in Visa Inc. $V

Purkiss Capital Advisors LLC increased its stake in Visa Inc. (NYSE:V) by 55.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,824 shares of the credit-card processor’s stock after purchasing an additional 2,777 shares during the period. Visa accounts for 1.5% of Purkiss Capital Advisors LLC’s portfolio, making the stock its 10th largest holding. Purkiss Capital Advisors LLC’s holdings in Visa were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after buying an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC increased its position in shares of Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC bought a new stake in shares of Visa in the 2nd quarter valued at $862,000. Iron Gate Global Advisors LLC increased its position in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after buying an additional 3,484 shares in the last quarter. Finally, NatWest Group plc increased its position in shares of Visa by 43.8% in the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after buying an additional 13,912 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Trading Up 1.0%

NYSE V opened at $344.53 on Friday. The stock has a market capitalization of $631.44 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.02 and a beta of 0.90. The stock’s 50 day moving average price is $344.94 and its two-hundred day moving average price is $348.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. Visa Inc. has a 52 week low of $287.19 and a 52 week high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 23.11%.

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.