Perissos Private Wealth Management LLC Grows Stock Holdings in Visa Inc. (NYSE:V)

Perissos Private Wealth Management LLC grew its holdings in Visa Inc. (NYSE:V) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,382 shares of the credit-card processor’s stock after acquiring an additional 308 shares during the period. Visa comprises approximately 1.3% of Perissos Private Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Perissos Private Wealth Management LLC’s holdings in Visa were worth $1,413,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on V shares. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group decreased their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Finally, Bank of America reissued a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Six 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 MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $309.81.

Visa Trading Up 0.7 %

Visa stock opened at $287.35 on Monday. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. 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 $523.64 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. The firm has a 50-day moving average price of $268.29 and a two-hundred day moving average price of $273.16.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. 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 payout ratio is 23.24%.

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.