Harbor Capital Advisors Inc. Purchases Shares of 24,106 Visa Inc. (NYSE:V)

Harbor Capital Advisors Inc. purchased a new stake in Visa Inc. (NYSE:V) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,106 shares of the credit-card processor’s stock, valued at approximately $8,448,000.

A number of other institutional investors have also modified their holdings of V. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the 4th quarter worth approximately $27,000. POM Investment Strategies LLC lifted its position in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new position in Visa during the 4th quarter worth approximately $32,000. NewSquare Capital LLC acquired a new position in Visa during the 4th quarter worth approximately $35,000. Finally, FPC Investment Advisory Inc. lifted its position in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’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 now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating on the stock. Jefferies Financial Group upped their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Truist Financial assumed coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price on the stock. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Price Performance

Shares of NYSE V opened at $366.72 on Tuesday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $371.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business’s fifty day moving average price is $345.86 and its two-hundred day moving average price is $336.28. The firm has a market capitalization of $676.66 billion, a PE ratio of 36.97, a P/E/G ratio of 2.33 and a beta of 0.94.

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, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the business posted $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is 23.72%.

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.