Harbor Asset Planning Inc. Takes Position in Visa Inc. $V

Harbor Asset Planning Inc. purchased a new stake in Visa Inc. (NYSE:V) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 81 shares of the credit-card processor’s stock, valued at approximately $29,000.

Other large investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new position in shares of Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the 2nd quarter valued at $28,000. Cranbrook Wealth Management LLC raised its position in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new position in Visa during the 1st quarter worth $38,000. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

V has been the subject of several analyst reports. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Stock Performance

V stock opened at $341.90 on Monday. The stock has a 50-day moving average price of $344.30 and a 200-day moving average price of $346.89. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is presently 23.05%.

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.