Harrell Investment Partners LLC Sells 1,210 Shares of Visa Inc. (NYSE:V)

Harrell Investment Partners LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,619 shares of the credit-card processor's stock after selling 1,210 shares during the period. Visa accounts for 1.5% of Harrell Investment Partners LLC's investment portfolio, making the stock its 26th biggest holding. Harrell Investment Partners LLC's holdings in Visa were worth $5,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Norges Bank purchased a new position in Visa during the 4th quarter worth approximately $5,171,271,000. GAMMA Investing LLC grew its position in Visa by 38,416.3% during 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. Vanguard Group Inc. grew its position in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Visa during the 4th quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC grew its position in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% 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 hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider now owns 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock valued at $36,738,526 in the last quarter. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Truist Financial began coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Finally, Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $372.80.

Visa Stock Down 0.7%

Shares of V stock traded down $2.34 on Friday, hitting $338.04. The company's stock had a trading volume of 19,326,861 shares, compared to its average volume of 7,042,416. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm's fifty day moving average price is $351.78 and its 200-day moving average price is $338.74. The stock has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.28 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.51 EPS. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio 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.