Harbor Capital Advisors Inc. Makes New $8.45 Million Investment in Visa Inc. (NYSE:V)

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

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC increased its holdings in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group lifted its holdings in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after buying an additional 6,172 shares during the period. Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of Visa during the fourth quarter worth approximately $10,163,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, Oppenheimer restated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock worth $50,133,659 in the last quarter. 0.13% of the stock is owned by company insiders.

Visa Trading Down 5.0%

Visa stock traded down $18.70 during trading on Friday, reaching $352.70. 7,195,718 shares of the company were exchanged, compared to its average volume of 6,999,206. The company has a market capitalization of $650.79 billion, a P/E ratio of 35.51, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The stock's 50 day simple moving average is $348.87 and its two-hundred day simple moving average is $337.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. Visa's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.

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.