S Harris Financial Group LLC Purchases New Stake in Visa Inc. $V

S Harris Financial Group LLC acquired a new position in shares of Visa Inc. (NYSE:VFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,177 shares of the credit-card processor’s stock, valued at approximately $763,000. Visa makes up 0.7% of S Harris Financial Group LLC’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clayton Financial Group LLC raised its holdings in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp grew its holdings in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter valued at about $26,000. Parvin Asset Management LLC increased its position in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Finally, Dorato Capital Management acquired a new stake in Visa during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

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Insider Activity at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on V shares. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Morgan Stanley restated an “overweight” rating and set a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. UBS Group lifted their price target on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Bank of America began coverage on Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $387.78.

Get Our Latest Stock Analysis on Visa

Visa Trading Up 0.1%

Shares of V stock opened at $327.67 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $587.76 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. The company has a 50-day moving average of $321.23 and a two-hundred day moving average of $324.24. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $359.66.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the firm earned $2.76 EPS. The business’s revenue was up 17.1% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 13.09 EPS for the current year.

Visa declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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