Harbour Investment Management LLC Has $2.23 Million Holdings in Visa Inc. (NYSE:V)

Harbour Investment Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,363 shares of the credit-card processor’s stock after selling 342 shares during the quarter. Harbour Investment Management LLC’s holdings in Visa were worth $2,230,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Visa in the 4th quarter worth $5,171,271,000. GAMMA Investing LLC boosted its stake in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. boosted its stake in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Northern Trust Corp boosted its stake in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Visa in the 4th quarter worth $673,689,000. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were 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 represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

V opened at $354.43 on Wednesday. The firm has a market cap of $653.98 billion, a P/E ratio of 35.62, a PEG ratio of 2.42 and a beta of 0.92. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a 50 day simple moving average of $356.43 and a two-hundred day simple moving average of $342.00. 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 (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 earnings per share. Visa’s revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Analyst Ratings Changes

A number of research firms have recently commented on V. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Macquarie lowered their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $372.84.

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.