Harrington Investments INC Lowers Holdings in Visa Inc. $V

Harrington Investments INC cut its holdings in Visa Inc. (NYSE:V) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,130 shares of the credit-card processor’s stock after selling 50 shares during the period. Harrington Investments INC’s holdings in Visa were worth $401,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Keystone Global Partners LLC bought a new stake in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter worth approximately $28,000. 1 North Wealth Services LLC bought a new stake in Visa in the 1st quarter worth approximately $38,000. Finally, Westend Capital Management LLC increased its stake in Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after acquiring an additional 49 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Mizuho raised 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 research report on Thursday, June 5th. Finally, Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Visa Stock Performance

Shares of Visa stock opened at $344.28 on Tuesday. The stock’s fifty day moving average is $345.58 and its two-hundred day moving average is $346.37. The company has a market capitalization of $630.99 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.42 EPS. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

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.