Everett Harris & Co. CA Has $4.11 Million Position in Visa Inc. (NYSE:V)

Everett Harris & Co. CA reduced its stake in shares of Visa Inc. (NYSE:V) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,736 shares of the credit-card processor’s stock after selling 1,520 shares during the quarter. Everett Harris & Co. CA’s holdings in Visa were worth $4,113,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rainsberger Wealth Advisors Inc. grew its position in shares of Visa by 3.3% in the 3rd quarter. Rainsberger Wealth Advisors Inc. now owns 4,231 shares of the credit-card processor’s stock valued at $973,000 after purchasing an additional 134 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake in Visa by 2,712.4% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 5,006 shares of the credit-card processor’s stock valued at $1,151,000 after acquiring an additional 4,828 shares in the last quarter. Cito Capital Group LLC lifted its stake in Visa by 0.8% in the 3rd quarter. Cito Capital Group LLC now owns 17,838 shares of the credit-card processor’s stock valued at $4,103,000 after acquiring an additional 150 shares in the last quarter. KB Financial Partners LLC lifted its stake in Visa by 0.4% in the 3rd quarter. KB Financial Partners LLC now owns 12,887 shares of the credit-card processor’s stock valued at $2,964,000 after acquiring an additional 56 shares in the last quarter. Finally, Tenere Capital LLC lifted its stake in Visa by 22.4% in the 3rd quarter. Tenere Capital LLC now owns 56,167 shares of the credit-card processor’s stock valued at $12,919,000 after acquiring an additional 10,280 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Mizuho boosted their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Macquarie upped their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Wedbush upped their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada upped their price objective on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Price Performance

Shares of V stock traded up $0.76 on Thursday, hitting $268.99. 5,017,760 shares of the company’s stock were exchanged, compared to its average volume of 9,395,944. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. Visa Inc. has a 12 month low of $227.68 and a 12 month high of $290.96. The stock has a market cap of $491.97 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a 50 day moving average of $273.45 and a 200 day moving average of $273.65.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. On average, equities research analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is presently 23.24%.

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.