Harmony Asset Management LLC Sells 907 Shares of Visa Inc. (NYSE:V)

Harmony Asset Management LLC lowered its position in Visa Inc. (NYSE:V) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,048 shares of the credit-card processor’s stock after selling 907 shares during the quarter. Visa accounts for 2.1% of Harmony Asset Management LLC’s holdings, making the stock its 10th largest position. Harmony Asset Management LLC’s holdings in Visa were worth $4,999,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors boosted its holdings in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares during the last quarter. Capital World Investors increased its position in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Fisher Asset Management LLC lifted its position in shares of Visa by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after purchasing an additional 166,767 shares during the period. Finally, Ninety One UK Ltd lifted its position in shares of Visa by 0.7% in the 2nd quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock worth $2,065,103,000 after purchasing an additional 55,437 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Evercore ISI dropped their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group cut their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Visa Stock Down 0.2 %

Shares of NYSE:V opened at $284.77 on Monday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a market capitalization of $520.83 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The business has a fifty day moving average price of $270.65 and a two-hundred day moving average price of $273.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 earnings per share. Analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa 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.