Harmony Asset Management LLC Raises Stock Position in Visa Inc. (NYSE:V)

Harmony Asset Management LLC raised its position in shares of Visa Inc. (NYSE:V) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 19,743 shares of the credit-card processor’s stock after acquiring an additional 128 shares during the period. Visa makes up 2.5% of Harmony Asset Management LLC’s investment portfolio, making the stock its 6th largest position. Harmony Asset Management LLC’s holdings in Visa were worth $6,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $27,000. POM Investment Strategies LLC increased its position in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Compass Planning Associates Inc bought a new stake in Visa during the 4th quarter valued at $32,000. FPC Investment Advisory Inc. boosted its position in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after acquiring an additional 83 shares during the period. Finally, NewSquare Capital LLC acquired a new position in Visa during the 4th quarter worth $35,000. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays boosted their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

Insider Activity

In related news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,931. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

V opened at $358.59 on Thursday. The firm has a market cap of $661.66 billion, a PE ratio of 36.15, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $340.60 and a 200-day simple moving average of $330.88. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $369.15.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $2.51 EPS. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s dividend payout ratio is 23.72%.

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.