Purus Wealth Management LLC Sells 131 Shares of Visa Inc. (NYSE:V)

by · The Markets Daily

Purus Wealth Management LLC cut its stake in Visa Inc. (NYSE:V – Free Report) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,211 shares of the credit-card processor’s stock after selling 131 shares during the period. Visa makes up approximately 3.0% of Purus Wealth Management LLC’s holdings, making the stock its 8th largest holding. Purus Wealth Management LLC’s holdings in Visa were worth $7,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Decker Retirement Planning Inc. bought a new position in shares of Visa during the 4th quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in Visa during the third quarter worth about $26,000. Modus Advisors LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $32,000. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at $31,000. Finally, West Financial Advisors LLC grew its holdings in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of Visa stock opened at $323.76 on Wednesday. The stock has a market capitalization of $603.12 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. The company has a fifty day moving average of $313.59 and a 200-day moving average of $289.09. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $324.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $2.33 earnings per share. Equities research analysts expect that Visa Inc. will post 11.2 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is 24.25%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Mizuho boosted their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, TD Cowen upped their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

View Our Latest Stock Report on V

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

About Visa

(Free Report)

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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