Perennial Investment Advisors LLC Acquires 375 Shares of Visa Inc. (NYSE:V)

Perennial Investment Advisors LLC increased its stake in shares of Visa Inc. (NYSE:V) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,862 shares of the credit-card processor’s stock after purchasing an additional 375 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Visa were worth $1,538,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC purchased a new position in Visa during the first quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa during the 4th quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Up 1.1 %

NYSE:V opened at $290.52 on Tuesday. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The stock has a fifty day simple moving average of $268.78 and a 200 day simple moving average of $273.21. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $529.42 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. Sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio is presently 23.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Compass Point started coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup decreased their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada dropped their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Finally, TD Cowen cut their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $309.81.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

About Visa

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.