Peregrine Capital Management LLC Cuts Position in Visa Inc. $V

Peregrine Capital Management LLC cut its holdings in Visa Inc. (NYSE:V) by 2.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,932 shares of the credit-card processor’s stock after selling 3,539 shares during the quarter. Visa accounts for approximately 1.8% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 12th largest position. Peregrine Capital Management LLC’s holdings in Visa were worth $58,353,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the period. Geode Capital Management LLC increased its position in Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares during the last quarter. Norges Bank bought a new position in Visa in the 2nd quarter valued at $7,034,939,000. TCI Fund Management Ltd. increased its holdings in Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Visa by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after acquiring an additional 145,665 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,042 shares of company stock valued at $8,247,289. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Evercore ISI set a $380.00 price objective on Visa in a research note on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus target price of $402.52.

Visa Stock Performance

Shares of V stock opened at $349.75 on Friday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market cap of $637.15 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.06 and a beta of 0.81. The business has a 50-day simple moving average of $340.09 and a 200-day simple moving average of $344.14.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the business earned $2.71 earnings per share. Visa’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.