Financial Harvest LLC Invests $287,000 in Visa Inc. $V

Key Points

• Financial Harvest LLC invested approximately $287,000 in Visa Inc., acquiring 809 shares, as reported in their recent SEC filing.
• Equities analysts have given Visa an average rating of "Moderate Buy", with a significant increase in price targets from firms like Macquarie and Mizuho, both setting targets at $425.00.
• Visa reported strong quarterly earnings, with $2.98 EPS and a revenue of $10.17 billion, surpassing estimates and showing a 14.3% year-over-year revenue growth.

Financial Harvest LLC acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 809 shares of the credit-card processor's stock, valued at approximately $287,000.

Other institutional investors have also modified their holdings of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC acquired a new position in Visa in the 2nd quarter valued at $28,000. 1 North Wealth Services LLC acquired a new position in Visa in the 1st quarter valued at $38,000. Finally, Westend Capital Management LLC increased its stake in Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Macquarie upped their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average price target of $385.96.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred 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 sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Down 1.7%

Shares of V stock opened at $338.66 on Wednesday. The firm has a market cap of $620.70 billion, a P/E ratio of 33.07, a PEG ratio of 2.29 and a beta of 0.92. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm's 50-day simple moving average is $345.41 and its 200-day simple moving average is $346.32.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Visa Company 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.

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