Harbour Investments Inc. Increases Stock Position in Visa Inc. (NYSE:V)

Harbour Investments Inc. grew its position in shares of Visa Inc. (NYSE:V) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,270 shares of the credit-card processor’s stock after purchasing an additional 522 shares during the quarter. Harbour Investments Inc.’s holdings in Visa were worth $5,848,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors grew its holdings in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors increased its position in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares during the period. Ameriprise Financial Inc. raised its stake in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $310.98 on Tuesday. Visa Inc. has a 1-year low of $244.11 and a 1-year high of $312.44. The firm has a 50 day simple moving average of $283.95 and a 200-day simple moving average of $274.67. The firm has a market cap of $566.70 billion, a PE ratio of 31.96, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.33 EPS. On average, equities analysts expect that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 21.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Susquehanna boosted their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Piper Sandler boosted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.