Everett Harris & Co. CA Decreases Stock Position in Visa Inc. $V

Everett Harris & Co. CA trimmed its holdings in Visa Inc. (NYSE:V) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,268 shares of the credit-card processor’s stock after selling 518 shares during the period. Everett Harris & Co. CA’s holdings in Visa were worth $5,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the second quarter valued at $29,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of Visa during the second quarter valued at $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.0%

V stock opened at $339.00 on Thursday. The company has a market cap of $621.32 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.05 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $342.72 and a 200-day simple moving average of $348.78. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is presently 23.11%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Morgan Stanley set a $398.00 target price on shares of Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. UBS Group set a $425.00 target price on shares of Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.