Visa Inc. (NYSE:V) is Peregrine Capital Management LLC's 8th Largest Position

Peregrine Capital Management LLC trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 189,956 shares of the credit-card processor's stock after selling 35,554 shares during the period. Visa accounts for about 1.8% of Peregrine Capital Management LLC's investment portfolio, making the stock its 8th largest position. Peregrine Capital Management LLC's holdings in Visa were worth $60,034,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Riverstone Advisors LLC purchased a new position in Visa in the fourth quarter valued at approximately $217,000. Custom Index Systems LLC acquired a new stake in shares of Visa during the third quarter worth approximately $731,000. Journey Strategic Wealth LLC grew its position in shares of Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after buying an additional 1,361 shares in the last quarter. Copley Financial Group Inc. acquired a new position in Visa in the third quarter worth $616,000. Finally, Calamos Wealth Management LLC boosted its holdings in shares of Visa by 0.6% during the fourth quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor's stock valued at $24,475,000 after acquiring an additional 435 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.6 %

Visa stock traded down $2.22 during mid-day trading on Friday, hitting $348.27. The company had a trading volume of 6,910,504 shares, compared to its average volume of 5,753,988. The stock's 50 day moving average price is $328.47 and its two-hundred day moving average price is $301.39. The company has a market capitalization of $647.01 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.36 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $357.15. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping 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, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa's payout ratio is 23.79%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on V shares. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. BMO Capital Markets boosted their target price on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Bank of America upped their target price on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Macquarie upped their price target on Visa from $300.00 to $335.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $355.31.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is owned by company insiders.

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.