Harvest Fund Management Co. Ltd Sells 6,922 Shares of Visa Inc. (NYSE:V)

Harvest Fund Management Co. Ltd lessened its holdings in shares of Visa Inc. (NYSE:V) by 77.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,005 shares of the credit-card processor’s stock after selling 6,922 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Visa were worth $551,000 at the end of the most recent quarter.

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Visa Stock Down 0.4 %

V opened at $311.82 on Wednesday. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $314.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm 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 price-to-earnings ratio of 32.05, a PEG ratio of 2.10 and a beta of 0.95.

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

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Robert W. Baird upped their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Susquehanna raised their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.