Perennial Investment Advisors LLC Has $2 Million Stake in Visa Inc. (NYSE:V)

Perennial Investment Advisors LLC raised its position in Visa Inc. (NYSE:V) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,312 shares of the credit-card processor’s stock after acquiring an additional 593 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Visa were worth $1,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC raised its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Norges Bank acquired a new stake in shares of Visa during the 4th quarter worth about $5,171,271,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after buying an additional 718,558 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Visa by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 9,758,703 shares of the credit-card processor’s stock valued at $3,084,141,000 after buying an additional 173,990 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Barclays increased their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Stock Down 7.6 %

Shares of NYSE V opened at $313.46 on Friday. The stock has a 50-day moving average price of $345.02 and a two-hundred day moving average price of $316.89. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $582.34 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is currently 23.79%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,205 shares of company stock worth $48,842,490. 0.13% of the stock is currently owned by insiders.

Visa 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.