Peregrine Capital Management LLC Sells 3,539 Shares of Visa Inc. $V

Peregrine Capital Management LLC trimmed its position in Visa Inc. (NYSE:V) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,932 shares of the credit-card processor’s stock after selling 3,539 shares during the period. Visa accounts for 1.8% of Peregrine Capital Management LLC’s portfolio, making the stock its 12th biggest 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 hedge funds have also recently modified their holdings of V. BankPlus Wealth Management LLC boosted its stake in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after acquiring an additional 29 shares in the last quarter. Transcendent Capital Group LLC lifted its holdings in shares of Visa by 2.9% during the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Visa by 1.6% in the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after purchasing an additional 29 shares in the last quarter. Old Port Advisors boosted its position in shares of Visa by 0.9% in the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after purchasing an additional 29 shares in the last quarter. Finally, Interchange Capital Partners LLC grew its stake in shares of Visa by 0.5% in the 2nd quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after buying an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.7%

Shares of V stock opened at $349.75 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The stock has a market capitalization of $637.15 billion, a P/E ratio of 34.26, a P/E/G ratio of 2.06 and a beta of 0.81. The firm’s 50 day moving average is $340.09 and its 200 day moving average is $344.14.

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

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis 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 is presently 26.25%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Robert W. Baird set a $425.00 price target on Visa in a research report on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Raymond James Financial restated an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, HSBC raised shares of Visa from a “hold” rating to a “buy” rating and lifted their target price for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $402.52.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This represents a 52.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,042 shares of company stock valued at $8,247,289 in the last quarter. 0.12% of the stock is currently owned by insiders.

About Visa

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.