Private Harbour Investment Management & Counsel LLC Sells 44 Shares of Visa Inc. (NYSE:V)

Private Harbour Investment Management & Counsel LLC decreased its position in shares of Visa Inc. (NYSE:V) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,469 shares of the credit-card processor’s stock after selling 44 shares during the period. Visa comprises approximately 2.2% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 18th largest holding. Private Harbour Investment Management & Counsel LLC’s holdings in Visa were worth $2,054,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter valued at $25,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on V shares. Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Oppenheimer assumed coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective for the company. Royal Bank of Canada decreased their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.19.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Visa stock opened at $290.38 on Friday. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $276.30 and its 200 day simple moving average is $272.86. The company has a market cap of $531.09 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.94 and a beta of 0.96.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s payout ratio is currently 23.24%.

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.