Pure Financial Advisors LLC Raises Stock Holdings in Visa Inc. $V

Key Points

• Pure Financial Advisors LLC significantly increased its stake in Visa Inc. by 369.5% during the second quarter, bringing its total holdings to $9,119,000.
• CEO Ryan Mcinerney sold over 10,000 shares of Visa, reducing his ownership by 95.13%, while other insiders also sold portions of their stocks recently.
• Visa's stock has received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and an average price target of $385.96.

Pure Financial Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 369.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,683 shares of the credit-card processor's stock after acquiring an additional 20,213 shares during the period. Pure Financial Advisors LLC's holdings in Visa were worth $9,119,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Yeomans Consulting Group Inc. raised its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC grew its holdings in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC increased its position in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after acquiring an additional 29 shares during the last quarter. Kennebec Savings Bank lifted its holdings in Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after acquiring an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value 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. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

V has been the subject of several research reports. Macquarie upped their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Price Performance

NYSE:V opened at $349.90 on Friday. The business's 50-day simple moving average is $343.78 and its two-hundred day simple moving average is $346.75. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The stock has a market cap of $641.28 billion, a PE ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $2.42 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

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.

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