Harvey Capital Management Inc. Has $7.73 Million Stock Position in Visa Inc. (NYSE:V)

Harvey Capital Management Inc. trimmed its position in Visa Inc. (NYSE:V) by 8.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,460 shares of the credit-card processor’s stock after selling 2,243 shares during the period. Visa comprises approximately 1.8% of Harvey Capital Management Inc.’s portfolio, making the stock its 17th largest holding. Harvey Capital Management Inc.’s holdings in Visa were worth $7,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new stake in Visa in the fourth quarter worth about $26,000. Peterson Financial Group Inc. acquired a new stake in Visa in the third quarter worth about $26,000. POM Investment Strategies LLC increased its position in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Modus Advisors LLC acquired a new stake in Visa in the fourth quarter worth about $32,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter worth about $31,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,056 shares of company stock worth $19,830,050 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 0.5 %

Shares of Visa stock opened at $353.73 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $356.08. The stock has a market cap of $657.15 billion, a P/E ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $324.29 and its 200-day moving average is $298.30.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities research analysts predict that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their target price on Visa from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley boosted their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $354.73.

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.