Visa Inc. (NYSE:V) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. trimmed its holdings in Visa Inc. (NYSE:V) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,460 shares of the credit-card processor’s stock after selling 2,243 shares during the quarter. Visa accounts for about 1.8% of Harvey Capital Management Inc.’s portfolio, making the stock its 17th biggest holding. Harvey Capital Management Inc.’s holdings in Visa were worth $7,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Keener Financial Planning LLC lifted its holdings in Visa by 800.0% in the 4th quarter. Keener Financial Planning LLC now owns 315 shares of the credit-card processor’s stock valued at $99,000 after acquiring an additional 280 shares during the last quarter. Retirement Guys Formula LLC raised its holdings in Visa by 1.1% during the 4th quarter. Retirement Guys Formula LLC now owns 5,172 shares of the credit-card processor’s stock worth $1,635,000 after buying an additional 56 shares during the period. Avion Wealth raised its holdings in Visa by 8.6% during the 4th quarter. Avion Wealth now owns 478 shares of the credit-card processor’s stock worth $151,000 after buying an additional 38 shares during the period. Davidson Capital Management Inc. lifted its stake in Visa by 4.2% during the fourth quarter. Davidson Capital Management Inc. now owns 11,676 shares of the credit-card processor’s stock valued at $3,690,000 after buying an additional 470 shares in the last quarter. Finally, Jmac Enterprises LLC lifted its stake in Visa by 2.2% during the fourth quarter. Jmac Enterprises LLC now owns 2,599 shares of the credit-card processor’s stock valued at $821,000 after buying an additional 57 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.5 %

Shares of V stock opened at $353.73 on Friday. The business’s 50 day moving average is $324.29 and its two-hundred day moving average is $298.30. The company has a market cap of $657.15 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $356.08.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities analysts predict that Visa Inc. will post 11.27 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is presently 23.79%.

Insider Buying and Selling at Visa

In related news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,056 shares of company stock valued at $19,830,050. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on V shares. JPMorgan Chase & Co. upped their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Susquehanna upped their price objective on shares of Visa from $375.00 to $395.00 and gave the company a “positive” rating in a research note on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $354.73.

Visa 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.