Purkiss Capital Advisors LLC Buys 1,559 Shares of Visa Inc. (NYSE:V)

Key Points

• Purkiss Capital Advisors LLC increased its position in Visa Inc. by 44.7%, owning 5,047 shares valued at approximately $1.77 million.
• Multiple analysts have raised their price targets for Visa, with Jefferies Financial Group setting a new target of $410.00, while the average consensus target is $375.52.
• Visa recently announced a quarterly dividend of $0.59 per share, reflecting a 0.66% dividend yield and a payout ratio of 23.72%.

Purkiss Capital Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 44.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,047 shares of the credit-card processor's stock after acquiring an additional 1,559 shares during the period. Visa accounts for 1.3% of Purkiss Capital Advisors LLC's holdings, making the stock its 14th largest position. Purkiss Capital Advisors LLC's holdings in Visa were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Capital International Investors increased its stake in Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after acquiring an additional 866,596 shares during the last quarter. Capital World Investors increased its stake in Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Northern Trust Corp increased its stake in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock valued at $32,902,432 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Visa Stock Down 0.6%

Shares of V traded down $1.93 on Thursday, reaching $348.98. The company's stock had a trading volume of 4,002,854 shares, compared to its average volume of 6,584,005. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The stock has a market capitalization of $643.92 billion, a PE ratio of 34.14, a PEG ratio of 2.37 and a beta of 0.92. The firm has a fifty day moving average of $355.61 and a 200-day moving average of $345.86.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 59.03%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's dividend payout ratio is presently 23.05%.

Analysts Set New Price Targets

V has been the topic of a number of research reports. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $379.04.

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.