Harbor Investment Advisory LLC trimmed its holdings in Visa Inc. (NYSE:V – Get Rating ) by 0.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,755 shares of the credit card processor’s stock after selling 142 shares during the period. Visa makes up approximately 1.3% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 10th largest position. Harbor Investment Advisory LLC’s holdings in Visa were worth $9,704,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Outfitter Financial LLC acquired a new stake in Visa in the fourth quarter worth about $27,000. Blue Bell Private Wealth Management LLC acquired a new stake in Visa in the fourth quarter worth about $32,000. Rise Advisors LLC acquired a new stake in Visa in the fourth quarter worth about $35,000.Disciplined Investments LLC boosted its stake in Visa by 500.0% in the fourth quarter. Disciplined Investments LLC now owns 168 shares of the credit card processor’s stock valued at $36,000 after buying an additional 140 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. grew its stake in Visa by 50.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 168 shares of the credit card processor’s stock valued at $36,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s shares.
V has been the subject of a number of analyst reports. Cowen cut their target price on shares of Visa from $276.00 to $254.00 in a research note on Wednesday, April 27th. Truist Financial reduced their target price on shares of Visa from $275.00 to $250.00 in a report on Thursday. Cowen reduced their target price on shares of Visa from $276.00 to $254.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. Credit Suisse Group boosted their target price on shares of Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. Finally, Citigroup cut their target price on shares of Visa from $285.00 to $265.00 in a report on Monday, April 25th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.24, based on data from MarketBeat.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $195.37, for a total transaction of $1,758,330.00. Following the completion of the sale, the chief executive officer now owns 159,887 shares of the company’s stock, valued at approximately $31,237,123.19. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 27,000 shares of company stock worth $5,619,330. Company insiders own 0.21% of the company’s shares.
Shares of Visa opened at $199.18 on Monday. The company has a debt-to-equity ratio of 0.53, a quick earnings ratio of 1.29, and a current ratio of 1.29. Visa Inc. has a 52-week low of $185.91 and a 52-week high of $252.67. The firm has a 50-day moving average of $203.19 and a 200-day moving average of $211.76. The firm has a market cap of $378.70 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.90.
Visa (NYSE:V – Get Rating ) last posted its quarterly earnings results on Tuesday, April 26th. The credit card processor reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.82 billion. In the same quarter last year, the business earned $1.38 EPS. The company’s revenue was up 25.5% over the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 7.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a dividend of $0.375 per share. The ex-dividend date was Thursday, May 12th. This represents a $1.50 annual dividend and a yield of 0.75%. Visa’s payout ratio is 23.58%.
Visa profile (Get Rating)
Visa Inc operates as a payment technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners and government bodies. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for Visa Inc. (NYSE:V – Get Rating).
Get Visa news and ratings daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Visa and related companies with MarketBeat.com’s FREE daily email newsletter.