Perennial Advisors LLC Sells 1,128 Shares of Visa Inc. $V

Key Points

• Perennial Advisors LLC reduced its Visa Inc. holdings by 3.0% in Q2, selling 1,128 shares, and now holds 37,022 shares valued at approximately $13.15 million.
• General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney both sold significant portions of their Visa stock, with Rottenberg's transaction reflecting a 14.53% decrease and Mcinerney's a 94.14% decrease in their ownership.
• Visa's recent earnings report indicated a strong performance, exceeding EPS estimates with a net margin of 52.16% and revenue growth of 14.3% year-over-year, totaling $10.17 billion.

Perennial Advisors LLC lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,022 shares of the credit-card processor's stock after selling 1,128 shares during the quarter. Visa makes up approximately 2.4% of Perennial Advisors LLC's investment portfolio, making the stock its 12th largest position. Perennial Advisors LLC's holdings in Visa were worth $13,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. 111 Capital purchased a new position in Visa during the fourth quarter worth about $448,000. Mascagni Wealth Management Inc. bought a new position in shares of Visa in the fourth quarter valued at approximately $71,000. Finally, Fire Capital Management LLC bought a new position in Visa in the 4th quarter valued at $1,034,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Trading Down 1.1%

NYSE V opened at $335.09 on Friday. The stock has a market cap of $614.15 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The stock has a 50 day simple moving average of $344.89 and a two-hundred day simple moving average of $346.22. Visa Inc. has a fifty-two week low of $270.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Analyst Ratings Changes

Several brokerages have recently issued reports on V. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. UBS Group reissued a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Barclays reiterated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

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.

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