Harrell Investment Partners LLC Raises Stock Holdings in Visa Inc. $V

Harrell Investment Partners LLC boosted its position in shares of Visa Inc. (NYSE:V) by 22.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 17,898 shares of the credit-card processor’s stock after acquiring an additional 3,279 shares during the quarter. Visa comprises about 1.6% of Harrell Investment Partners LLC’s portfolio, making the stock its 14th largest position. Harrell Investment Partners LLC’s holdings in Visa were worth $6,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Signet Financial Management LLC lifted its stake in Visa by 0.3% during the 2nd quarter. Signet Financial Management LLC now owns 13,838 shares of the credit-card processor’s stock valued at $4,913,000 after acquiring an additional 42 shares during the period. Verum Partners LLC increased its stake in shares of Visa by 27.9% in the second quarter. Verum Partners LLC now owns 2,107 shares of the credit-card processor’s stock worth $748,000 after acquiring an additional 460 shares during the period. Legacy Solutions LLC raised its holdings in shares of Visa by 6.4% during the second quarter. Legacy Solutions LLC now owns 1,205 shares of the credit-card processor’s stock worth $428,000 after purchasing an additional 72 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Visa by 7.2% during the second quarter. TD Private Client Wealth LLC now owns 29,490 shares of the credit-card processor’s stock valued at $10,470,000 after purchasing an additional 1,993 shares during the period. Finally, Mather Group LLC. boosted its holdings in Visa by 0.7% in the second quarter. Mather Group LLC. now owns 36,772 shares of the credit-card processor’s stock valued at $13,056,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.1%

Visa stock opened at $335.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $614.15 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The business has a 50 day simple moving average of $344.89 and a 200-day simple moving average of $346.22. Visa Inc. has a 12 month low of $270.00 and a 12 month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 EPS. On average, analysts anticipate 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 Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, UBS Group reiterated a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.