Harbour Trust & Investment Management Co Sells 107 Shares of Visa Inc. (NYSE:V)

Harbour Trust & Investment Management Co cut its holdings in Visa Inc. (NYSE:V) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,622 shares of the credit-card processor’s stock after selling 107 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Visa were worth $919,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Sovereign Investment Advisors LLC bought a new position in Visa in the fourth quarter valued at approximately $424,000. Brighton Jones LLC boosted its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Leverage Partners Absolute Return Fund SPC bought a new position in shares of Visa during the fourth quarter worth $204,000. Finally, SOA Wealth Advisors LLC. boosted its position in shares of Visa by 7.0% during the fourth quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor’s stock worth $902,000 after purchasing an additional 187 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. UBS Group raised their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.84.

Visa Stock Performance

V opened at $358.70 on Friday. The company has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 2.40 and a beta of 0.92. The business’s 50-day moving average price is $355.33 and its two-hundred day moving average price is $340.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 EPS. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,478 shares of company stock worth $33,717,733 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.