Clear Harbor Asset Management LLC Raises Position in Visa Inc. (NYSE:V)

Clear Harbor Asset Management LLC boosted its stake in Visa Inc. (NYSE:V) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,143 shares of the credit-card processor’s stock after buying an additional 2,178 shares during the period. Clear Harbor Asset Management LLC’s holdings in Visa were worth $7,327,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of V. State Street Corp lifted its holdings in shares of Visa by 1.7% during the second quarter. State Street Corp now owns 74,133,003 shares of the credit-card processor’s stock valued at $17,605,106,000 after purchasing an additional 1,235,891 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the last quarter. FMR LLC lifted its holdings in shares of Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Visa by 116,608.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Visa by 5.7% during the second quarter. Royal Bank of Canada now owns 18,879,347 shares of the credit-card processor’s stock valued at $4,483,466,000 after purchasing an additional 1,015,104 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of V stock traded up $0.06 during mid-day trading on Friday, reaching $279.08. 5,844,358 shares of the company’s stock traded hands, compared to its average volume of 6,182,342. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The firm has a 50 day moving average price of $279.11 and a two-hundred day moving average price of $258.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $512.53 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter in the previous year, the firm posted $2.18 EPS. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 9.89 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio (DPR) is 23.94%.

Analyst Ratings Changes

V has been the subject of a number of recent analyst reports. KeyCorp boosted their price objective on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Royal Bank of Canada boosted their price objective on shares of Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday. Barclays boosted their price objective on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Visa from $280.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $295.82.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Visa news, insider Rajat Taneja sold 36,546 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,311 shares of company stock worth $12,832,129. 0.19% of the stock is owned by corporate 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.