S Harris Financial Group LLC Takes Position in Visa Inc. $V

S Harris Financial Group LLC purchased a new stake in Visa Inc. (NYSE:VFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,177 shares of the credit-card processor’s stock, valued at approximately $763,000. Visa accounts for approximately 0.7% of S Harris Financial Group LLC’s holdings, making the stock its 29th largest holding.

Other large investors also recently bought and sold shares of the company. Clayton Financial Group LLC boosted its stake in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after buying an additional 58 shares during the period. PayPay Securities Corp increased its stake in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa during the fourth quarter worth approximately $26,000. Parvin Asset Management LLC raised its holdings in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in Visa in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa Stock Performance

Shares of V opened at $327.67 on Friday. The stock has a 50 day moving average price of $321.23 and a 200 day moving average price of $324.24. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $587.76 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period in the prior year, the firm posted $2.76 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. Research analysts predict that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa announced that its board has authorized a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Bank of America started coverage on shares of Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective on the stock. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Oppenheimer reiterated an “outperform” rating and set a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Finally, BMO Capital Markets assumed coverage on Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 target price on the stock. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $387.78.

Check Out Our Latest Report on Visa

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About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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