Perigon Wealth Management LLC Grows Stock Position in Visa Inc (NYSE:V)

Perigon Wealth Management LLC grew its position in Visa Inc (NYSE:V) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,891 shares of the credit-card processor’s stock after acquiring an additional 642 shares during the quarter. Visa accounts for 1.9% of Perigon Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Perigon Wealth Management LLC’s holdings in Visa were worth $11,762,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in V. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Visa in the 1st quarter worth $25,000. AlphaMark Advisors LLC lifted its holdings in shares of Visa by 57.8% in the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock worth $28,000 after buying an additional 63 shares during the period. Cedar Mountain Advisors LLC lifted its holdings in shares of Visa by 102.6% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after buying an additional 80 shares during the period. CVA Family Office LLC purchased a new stake in shares of Visa in the 1st quarter worth $32,000. Finally, Price Wealth LLC lifted its holdings in shares of Visa by 90.0% in the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock worth $37,000 after buying an additional 90 shares during the period. 81.41% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the company. Daiwa Capital Markets reiterated a “neutral” rating and issued a $204.00 target price on shares of Visa in a report on Tuesday, July 21st. Piper Sandler upped their target price on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup upped their price objective on Visa from $205.00 to $223.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. decreased their price objective on Visa from $203.00 to $186.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets decreased their price objective on Visa from $234.00 to $213.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Visa has a consensus rating of “Buy” and a consensus price target of $207.56.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the transaction, the chief executive officer now owns 130,090 shares in the company, valued at $25,367,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The disclosure for this sale can be found here. Insiders have sold 50,429 shares of company stock worth $9,746,754 in the last quarter. 0.19% of the stock is currently owned by company insiders.

Shares of V opened at $190.40 on Friday. Visa Inc has a 52 week low of $133.93 and a 52 week high of $214.17. The company has a quick ratio of 1.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $377.15 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 3.09 and a beta of 0.92. The stock’s 50-day moving average price is $194.04 and its 200-day moving average price is $187.14.

Visa (NYSE:V) last issued its 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 the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s revenue was down 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that Visa Inc will post 4.98 EPS for the current fiscal year.

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

Visa Company Profile

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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