Perennial Investment Advisors LLC Buys 260 Shares of Visa Inc. $V

Perennial Investment Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,866 shares of the credit-card processor’s stock after acquiring an additional 260 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Visa were worth $2,793,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in V. Keystone Global Partners LLC purchased a new stake in Visa in the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the 2nd quarter valued at $29,000. Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in shares of Visa in the second quarter worth $36,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 21,870 shares of company stock valued at $7,467,233. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Macquarie decreased their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $400.00.

Visa Trading Down 1.3%

Shares of V opened at $325.64 on Tuesday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a 50 day simple moving average of $341.83 and a two-hundred day simple moving average of $348.59. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $593.24 billion, a P/E ratio of 31.89, a price-to-earnings-growth ratio of 2.00 and a beta of 0.87.

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

Visa Increases Dividend

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

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.