Perennial Advisors LLC Decreases Stake in Visa Inc. $V

Perennial Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 3.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 37,022 shares of the credit-card processor’s stock after selling 1,128 shares during the quarter. Visa makes up approximately 2.4% of Perennial Advisors LLC’s portfolio, making the stock its 12th largest holding. Perennial Advisors LLC’s holdings in Visa were worth $13,145,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in Visa during the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the second quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter worth approximately $27,000. Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC grew its position in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $335.09 on Friday. The stock has a 50 day moving average price of $344.89 and a 200 day moving average price of $346.22. Visa Inc. has a 52-week low of $270.00 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $614.15 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.25 and a beta of 0.92.

Visa (NYSE:V) last released 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 return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on V. Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Macquarie raised their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, Raymond James Financial restated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Company 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.