Visa Inc. $V Stock Holdings Lowered by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,234 shares of the credit-card processor’s stock after selling 524 shares during the quarter. Visa makes up about 1.2% of Harbor Investment Advisory LLC’s holdings, making the stock its 10th biggest holding. Harbor Investment Advisory LLC’s holdings in Visa were worth $13,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC purchased a new position in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. purchased a new position in Visa during the 1st quarter valued at $27,000. 1 North Wealth Services LLC purchased a new position in Visa during the 1st quarter valued at $38,000. Anderson Financial Strategies LLC purchased a new position in Visa during the 1st quarter valued at $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa during the 1st quarter valued at $54,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $339.33 on Friday. The stock has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.29 and a beta of 0.92. The firm’s 50-day moving average is $347.03 and its 200 day moving average is $346.94. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company 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%. Visa’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 EPS. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Finally, Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $385.96.

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.