Harvest Fund Management Co. Ltd Has $551,000 Position in Visa Inc. (NYSE:V)

Harvest Fund Management Co. Ltd trimmed its holdings in shares of Visa Inc. (NYSE:V) by 77.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,005 shares of the credit-card processor’s stock after selling 6,922 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Visa were worth $551,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. WFA Asset Management Corp lifted its stake in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 100 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of Visa in the first quarter valued at approximately $818,000. Citizens Financial Group Inc. RI boosted its stake in shares of Visa by 2.9% during the 1st quarter. Citizens Financial Group Inc. RI now owns 72,034 shares of the credit-card processor’s stock worth $20,103,000 after acquiring an additional 2,044 shares during the period. Pacific Center for Financial Services increased its holdings in shares of Visa by 28.3% during the 1st quarter. Pacific Center for Financial Services now owns 5,913 shares of the credit-card processor’s stock worth $1,650,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. raised its stake in Visa by 6.1% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 37,190 shares of the credit-card processor’s stock valued at $10,379,000 after acquiring an additional 2,141 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.4 %

Shares of NYSE V opened at $311.82 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a 50-day moving average price of $290.37 and a 200-day moving average price of $277.80. The stock has a market capitalization of $580.88 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.10 and a beta of 0.95. Visa Inc. has a 1 year low of $251.61 and a 1 year high of $314.50.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on V. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. TD Cowen increased their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Morgan Stanley increased their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.