Perkins Coie Trust Co Sells 386 Shares of Visa Inc. (NYSE:V)

Perkins Coie Trust Co trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,726 shares of the credit-card processor’s stock after selling 386 shares during the quarter. Visa accounts for approximately 1.8% of Perkins Coie Trust Co’s portfolio, making the stock its 10th biggest position. Perkins Coie Trust Co’s holdings in Visa were worth $8,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Hilltop National Bank acquired a new stake in shares of Visa in the first quarter valued at $1,212,000. Absolute Capital Management LLC purchased a new stake in Visa during the first quarter worth about $404,000. Davidson Capital Management Inc. boosted its stake in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after purchasing an additional 44 shares during the period. Empirical Finance LLC boosted its stake in shares of Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares during the period. Finally, Arjuna Capital increased its stake in Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group decreased their price objective 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. Finally, Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Price Performance

NYSE V traded up $0.56 during mid-day trading on Wednesday, hitting $275.52. The stock had a trading volume of 98,713 shares, compared to its average volume of 7,136,169. The company has a 50 day simple moving average of $273.48 and a 200 day simple moving average of $272.68. 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 company has a market cap of $503.91 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the business posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Visa Profile

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.