Harel Insurance Investments & Financial Services Ltd. Grows Stake in Visa Inc. (NYSE:V)

Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Visa Inc. (NYSE:V) by 0.1% during the second quarter, HoldingsChannel.com reports. The firm owned 231,084 shares of the credit-card processor’s stock after buying an additional 315 shares during the period. Visa accounts for 1.1% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 24th biggest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in Visa were worth $60,690,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at $33,000. TruNorth Capital Management LLC raised its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on V shares. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Wedbush lifted their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Bank of America restated a “neutral” rating and set a $297.00 target price (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Mizuho upped their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Price Performance

V stock traded up $0.65 during mid-day trading on Tuesday, reaching $267.12. The company’s stock had a trading volume of 1,148,714 shares, compared to its average volume of 7,185,667. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $266.24 and its two-hundred day moving average is $273.50. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The stock has a market cap of $486.78 billion, a PE ratio of 29.79, a P/E/G ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Equities research analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.

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.