Visa Inc (NYSE:V) is Peregrine Capital Management LLC’s 7th Largest Position

Peregrine Capital Management LLC boosted its position in Visa Inc (NYSE:V) by 3.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 225,338 shares of the credit-card processor’s stock after purchasing an additional 7,161 shares during the period. Visa makes up approximately 1.2% of Peregrine Capital Management LLC’s holdings, making the stock its 7th largest holding. Peregrine Capital Management LLC’s holdings in Visa were worth $43,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in V. BEAM Asset Management LLC boosted its holdings in shares of Visa by 2.0% in the second quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock worth $525,000 after acquiring an additional 52 shares during the period. Perennial Investment Advisors LLC boosted its stake in Visa by 2.6% during the second quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock valued at $391,000 after buying an additional 52 shares during the period. Trellis Advisors LLC boosted its stake in Visa by 2.2% during the second quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock valued at $467,000 after buying an additional 52 shares during the period. Ironwood Investment Counsel LLC boosted its stake in Visa by 1.0% during the first quarter. Ironwood Investment Counsel LLC now owns 5,509 shares of the credit-card processor’s stock valued at $887,000 after buying an additional 57 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its stake in Visa by 3.7% during the first quarter. Laurel Wealth Advisors LLC now owns 1,588 shares of the credit-card processor’s stock valued at $256,000 after buying an additional 57 shares during the period. 81.41% of the stock is owned by institutional investors and hedge funds.

V has been the subject of several research analyst reports. SunTrust Banks lifted their price objective on Visa from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Guggenheim lowered Visa from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 22nd. Zacks Investment Research raised Visa from a “sell” rating to a “hold” rating and set a $181.00 price objective for the company in a research note on Sunday, May 3rd. Citigroup lifted their price target on Visa from $205.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, UBS Group dropped their price target on Visa from $190.00 to $188.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $207.56.

In other news, insider Rajat Taneja sold 3,279 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $202.02, for a total value of $662,423.58. Following the sale, the insider now directly owns 221,282 shares of the company’s stock, valued at approximately $44,703,389.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $194.50, for a total value of $1,361,500.00. Following the completion of the sale, the chief executive officer now directly owns 136,090 shares in the company, valued at $26,469,505. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,429 shares of company stock worth $9,746,754. Insiders own 0.19% of the company’s stock.

Visa stock traded down $3.66 during trading hours on Friday, hitting $190.40. 14,186,004 shares of the stock traded hands, compared to its average volume of 7,102,219. The firm’s 50-day moving average price is $194.04 and its two-hundred day moving average price is $187.14. The company has a current ratio of 1.55, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market cap of $377.15 billion, a PE ratio of 36.07, a PEG ratio of 3.09 and a beta of 0.92. Visa Inc has a one year low of $133.93 and a one year high of $214.17.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the firm posted $1.37 EPS. The business’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc will post 4.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio is currently 22.06%.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Read More: Depreciation

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.