Peregrine Capital Management LLC Sells 14,288 Shares of Visa Inc. (NYSE:V)

Peregrine Capital Management LLC decreased its holdings in Visa Inc. (NYSE:V) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,770 shares of the credit-card processor’s stock after selling 14,288 shares during the quarter. Visa makes up 1.7% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Peregrine Capital Management LLC’s holdings in Visa were worth $59,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in Visa by 1,215.7% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 168,786 shares of the credit-card processor’s stock worth $43,943,000 after purchasing an additional 155,957 shares during the last quarter. Brio Consultants LLC increased its position in shares of Visa by 39.1% during the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock worth $405,000 after buying an additional 437 shares during the period. Gilbert & Cook Inc. increased its position in shares of Visa by 2.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after buying an additional 158 shares during the period. McAdam LLC raised its stake in Visa by 63.9% during the fourth quarter. McAdam LLC now owns 3,870 shares of the credit-card processor’s stock worth $1,008,000 after buying an additional 1,509 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Visa by 3.1% in the fourth quarter. Van ECK Associates Corp now owns 316,758 shares of the credit-card processor’s stock valued at $82,468,000 after buying an additional 9,618 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V stock traded up $2.05 on Friday, hitting $276.37. 6,154,522 shares of the stock were exchanged, compared to its average volume of 7,134,793. The firm’s 50 day moving average is $265.67 and its two-hundred day moving average is $273.12. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The firm has a market capitalization of $505.46 billion, a PE ratio of 30.88, a P/E/G ratio of 1.89 and a beta of 0.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business earned $2.16 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is 23.24%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on V. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Morgan Stanley cut their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen reduced their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $308.50.

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.