Harfst & Associates Inc. Has $3.16 Million Position in Visa Inc. $V

Harfst & Associates Inc. trimmed its stake in shares of Visa Inc. (NYSE:V) by 15.2% in the second quarter, Holdings Channel.com reports. The fund owned 8,893 shares of the credit-card processor’s stock after selling 1,593 shares during the quarter. Visa makes up approximately 0.7% of Harfst & Associates Inc.’s investment portfolio, making the stock its 18th biggest position. Harfst & Associates Inc.’s holdings in Visa were worth $3,157,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in V. Baltimore Washington Financial Advisors Inc. boosted its stake in shares of Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after purchasing an additional 5,295 shares during the last quarter. GM Advisory Group LLC boosted its position in shares of Visa by 22.6% during the 2nd quarter. GM Advisory Group LLC now owns 15,686 shares of the credit-card processor’s stock valued at $5,569,000 after purchasing an additional 2,894 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Visa by 19.8% during the second quarter. Quadrant Capital Group LLC now owns 45,106 shares of the credit-card processor’s stock worth $16,015,000 after purchasing an additional 7,442 shares during the period. Vinva Investment Management Ltd increased its holdings in Visa by 36.6% in the second quarter. Vinva Investment Management Ltd now owns 119,727 shares of the credit-card processor’s stock worth $41,738,000 after purchasing an additional 32,056 shares in the last quarter. Finally, Charles Lim Capital Ltd lifted its stake in Visa by 1,400.0% in the second quarter. Charles Lim Capital Ltd now owns 75,000 shares of the credit-card processor’s stock valued at $26,629,000 after buying an additional 70,000 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

V stock opened at $334.10 on Thursday. The business has a 50 day moving average of $339.91 and a 200-day moving average of $347.52. The firm has a market cap of $608.65 billion, a PE ratio of 32.72, a P/E/G ratio of 1.98 and a beta of 0.87. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.3 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 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is currently 26.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Macquarie lowered their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.