Harbour Investment Management LLC Decreases Position in Visa Inc. $V

Harbour Investment Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,253 shares of the credit-card processor’s stock after selling 110 shares during the period. Harbour Investment Management LLC’s holdings in Visa were worth $2,220,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new position in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new position in Visa in the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Friday. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Finally, UBS Group reissued a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $392.75.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was 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 owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Visa stock opened at $347.34 on Monday. The firm’s fifty day moving average price is $344.79 and its 200-day moving average price is $347.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

Visa Company 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.