Flagship Harbor Advisors LLC cut its position in shares of Visa Inc. (NYSE:V – Get Rating) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,397 shares of the credit-card processor’s stock after selling 59 shares during the quarter. Visa comprises 0.8% of Flagship Harbor Advisors LLC’s portfolio, making the stock its 20th biggest position. Flagship Harbor Advisors LLC’s holdings in Visa were worth $8,657,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new stake in shares of Visa in the fourth quarter valued at about $26,000. JDM Financial Group LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $29,000. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $31,000. Financial Freedom LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $32,000. Finally, St. James Investment Advisors LLC boosted its holdings in Visa by 58.7% in the fourth quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock valued at $45,000 after purchasing an additional 81 shares during the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on V shares. BMO Capital Markets increased their price target on Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. Raymond James increased their price target on Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. 22nd Century Group reissued a “maintains” rating on shares of Visa in a report on Wednesday, April 26th. StockNews.com initiated coverage on Visa in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Oppenheimer increased their target price on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.08.
Visa Stock Up 0.5 %
Visa (NYSE:V – Get Rating) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. Visa had a return on equity of 50.21% and a net margin of 50.95%. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.79 billion. During the same period last year, the firm earned $1.79 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is presently 24.06%.
Insider Activity
In other news, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction on Friday, April 28th. The stock was sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at approximately $17,036,887.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the completion of the sale, the chairman now directly owns 154,854 shares of the company’s stock, valued at approximately $36,060,850.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the sale, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,277 shares of company stock worth $27,018,374. 0.21% of the stock is owned by company insiders.
Visa Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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