Peregrine Asset Advisers Inc. purchased a new position in shares of Visa Inc. (NYSE:V) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 46,581 shares of the credit-card processor’s stock, valued at approximately $4,368,000. Visa comprises approximately 2.8% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 14th largest holding.
Other hedge funds have also modified their holdings of the company. Wallington Asset Management LLC increased its holdings in Visa by 3.8% during the 2nd quarter. Wallington Asset Management LLC now owns 57,779 shares of the credit-card processor’s stock worth $5,419,000 after purchasing an additional 2,090 shares during the period. iAB Financial Bank increased its holdings in Visa by 2.6% during the 2nd quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock worth $5,342,000 after purchasing an additional 1,423 shares during the period. Carret Asset Management LLC increased its holdings in Visa by 4.5% during the 1st quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock worth $2,403,000 after purchasing an additional 1,153 shares during the period. Cypress Asset Management Inc. TX increased its holdings in Visa by 31.1% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 14,720 shares of the credit-card processor’s stock worth $1,380,000 after purchasing an additional 3,495 shares during the period. Finally, DE Burlo Group Inc. increased its holdings in Visa by 65.9% during the 1st quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock worth $12,886,000 after purchasing an additional 57,600 shares during the period. 81.91% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the company. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $115.24 price target on the stock in a report on Monday. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $123.00 price target on the stock in a report on Thursday, November 2nd. Jefferies Group lifted their price target on Visa from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, October 30th. Buckingham Research lifted their price target on Visa from $129.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Nomura lifted their price target on Visa from $120.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $117.08.
Shares of Visa Inc. (V) traded up $1.40 on Thursday, reaching $111.14. The company’s stock had a trading volume of 3,434,750 shares, compared to its average volume of 7,661,438. Visa Inc. has a 12 month low of $77.19 and a 12 month high of $113.62. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $224,938.80, a PE ratio of 31.20, a P/E/G ratio of 1.59 and a beta of 0.97.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. equities research analysts predict that Visa Inc. will post 4.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were given a dividend of $0.195 per share. The ex-dividend date was Thursday, November 16th. This represents a $0.78 dividend on an annualized basis and a yield of 0.70%. This is a boost from Visa’s previous quarterly dividend of $0.17. Visa’s payout ratio is currently 27.86%.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the sale, the senior vice president now owns 687 shares of the company’s stock, valued at approximately $77,005.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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