Harbor Asset Planning Inc. Purchases Shares of 81 Visa Inc. $V

Harbor Asset Planning Inc. purchased a new stake in shares of Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 81 shares of the credit-card processor’s stock, valued at approximately $29,000.

A number of other hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new position in Visa during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in shares of Visa in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. UBS Group restated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Barclays restated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

Visa Price Performance

Visa stock opened at $341.90 on Monday. The business’s 50 day simple moving average is $344.30 and its 200 day simple moving average is $346.89. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

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.