Harel Insurance Investments & Financial Services Ltd. Sells 4,309 Shares of Visa Inc. (NYSE:V)

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 2.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,777 shares of the credit-card processor's stock after selling 4,309 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Visa were worth $54,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sellwood Investment Partners LLC bought a new stake in Visa in the 4th quarter valued at $41,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Visa in the 4th quarter valued at about $47,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa during the 4th quarter worth approximately $47,000. O Brien Wealth Partners LLC acquired a new position in Visa during the 1st quarter valued at approximately $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Visa in the first quarter valued at $56,000. Institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the topic of a number of research reports. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $372.84.

Visa Price Performance

NYSE:V traded up $2.33 during trading hours on Wednesday, hitting $356.88. 2,626,425 shares of the stock traded hands, compared to its average volume of 6,821,911. The company has a market cap of $658.50 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. The stock has a 50 day moving average price of $356.43 and a 200 day moving average price of $342.00. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the firm posted $2.51 EPS. Visa's revenue was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio is presently 23.72%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the 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 sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company's stock.

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.