Flagship Harbor Advisors LLC Has $14.36 Million Holdings in Visa Inc. (NYSE:V)

Flagship Harbor Advisors LLC increased its stake in shares of Visa Inc. (NYSE:V) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,967 shares of the credit-card processor’s stock after purchasing an additional 180 shares during the period. Visa makes up approximately 0.8% of Flagship Harbor Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Flagship Harbor Advisors LLC’s holdings in Visa were worth $14,357,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in V. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter valued at $27,000. Compass Planning Associates Inc acquired a new position in shares of Visa in the 4th quarter valued at approximately $32,000. NewSquare Capital LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $35,000. FPC Investment Advisory Inc. boosted its holdings in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $41,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 over the last ninety days. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Macquarie reduced their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Truist Financial started coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective for the company. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Five equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Price Performance

NYSE:V opened at $344.18 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $351.95 and its two-hundred day moving average price is $339.18. The firm has a market capitalization of $635.07 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.28 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is presently 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.