Visa Inc. (NYSE:V) Shares Sold by Harbour Investments Inc.

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Harbour Investments Inc. decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,136 shares of the credit-card processor's stock after selling 2,380 shares during the period. Harbour Investments Inc.'s holdings in Visa were worth $6,706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors grew its position in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after buying an additional 866,596 shares during the period. Capital World Investors boosted its stake in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Northern Trust Corp grew its position in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. GAMMA Investing LLC increased its stake in shares of Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Visa by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after purchasing an additional 1,723,785 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, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock worth $32,902,432 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE V traded down $4.92 during midday trading on Friday, hitting $340.55. The stock had a trading volume of 1,977,836 shares, compared to its average volume of 6,581,209. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $355.36 and a 200-day simple moving average of $346.13. The company has a market capitalization of $628.37 billion, a PE ratio of 33.25, a P/E/G ratio of 2.36 and a beta of 0.92. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51.

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, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is 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%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on V shares. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. UBS Group restated a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday. Finally, Barclays reiterated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

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.