Perigon Wealth Management LLC Buys New Shares in Visa Inc. (NYSE:V)

Perigon Wealth Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 126,253 shares of the credit-card processor’s stock, valued at approximately $34,713,000. Visa comprises 0.9% of Perigon Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds have also modified their holdings of V. Perpetual Ltd raised its holdings in shares of Visa by 0.8% during the first quarter. Perpetual Ltd now owns 6,344 shares of the credit-card processor’s stock worth $1,770,000 after purchasing an additional 52 shares during the last quarter. Abacus Wealth Partners LLC purchased a new position in shares of Visa during the 1st quarter valued at about $383,000. Banque Cantonale Vaudoise raised its stake in shares of Visa by 16.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 107,760 shares of the credit-card processor’s stock valued at $30,071,000 after buying an additional 15,238 shares during the last quarter. Wedmont Private Capital lifted its holdings in shares of Visa by 5.4% in the 1st quarter. Wedmont Private Capital now owns 14,544 shares of the credit-card processor’s stock valued at $4,025,000 after buying an additional 741 shares during the period. Finally, Grandview Asset Management LLC boosted its stake in shares of Visa by 2.1% in the first quarter. Grandview Asset Management LLC now owns 5,804 shares of the credit-card processor’s stock worth $1,620,000 after buying an additional 120 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $290.38 on Friday. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a market cap of $531.09 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.94 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $276.30 and its 200-day moving average price is $272.86.

Visa (NYSE:V) last released 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. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. On average, sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank of Canada decreased their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Jefferies Financial Group lowered their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI cut their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Morgan Stanley reissued an “overweight” rating and set a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

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.