Visa Inc. (NYSE:V) Stock Position Lessened by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,820 shares of the credit-card processor’s stock after selling 1,248 shares during the quarter. Visa comprises about 1.0% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 14th largest holding. Harbor Investment Advisory LLC’s holdings in Visa were worth $10,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of V. Westend Capital Management LLC bought a new position in Visa during the first quarter valued at about $25,000. Livelsberger Financial Advisory bought a new stake in Visa during the fourth quarter worth approximately $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on V. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.04.

Visa Trading Up 0.4 %

NYSE V traded up $1.07 during trading hours on Friday, hitting $277.93. The company’s stock had a trading volume of 4,260,920 shares, compared to its average volume of 7,201,777. The stock has a fifty day moving average of $273.00 and a 200 day moving average of $273.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The firm has a market capitalization of $508.32 billion, a P/E ratio of 31.05, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the company posted $2.16 EPS. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is 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.