Harvest Portfolios Group Inc. Boosts Stake in Visa Inc. $V

Harvest Portfolios Group Inc. raised its position in shares of Visa Inc. (NYSE:VFree Report) by 8.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,204 shares of the credit-card processor’s stock after buying an additional 4,849 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Visa were worth $22,166,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC grew its position in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp grew its position in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in Visa during the fourth quarter valued at about $26,000. Parvin Asset Management LLC grew its position in Visa by 200.0% during 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 during the period. Finally, Dorato Capital Management purchased a new stake in Visa during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.8%

Shares of V opened at $329.93 on Wednesday. The stock’s 50-day moving average is $311.72 and its two-hundred day moving average is $325.56. The stock has a market cap of $591.83 billion, a PE ratio of 28.74, a P/E/G ratio of 1.78 and a beta of 0.78. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

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

Visa declared that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s payout ratio is currently 23.34%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the transaction, the director owned 2,679 shares in the company, valued at $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. 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. Insiders have sold a total of 42,744 shares of company stock worth $14,356,010 over the last quarter. 0.12% of the stock is owned by corporate insiders.

Trending Headlines about Visa

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Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on V shares. Rothschild & Co Redburn set a $385.00 price target on Visa in a research report on Wednesday, January 28th. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Freedom Capital raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Raymond James Financial reissued an “outperform” rating and set a $389.00 price target on shares of Visa in a research report on Wednesday, April 29th. Finally, TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. Six analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $387.67.

Get Our Latest Research Report on V

Visa Profile

(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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