Harvest Fund Management Co. Ltd Buys 10,427 Shares of Visa Inc. (NYSE:V)

Harvest Fund Management Co. Ltd boosted its stake in Visa Inc. (NYSE:V) by 520.0% in the 4th quarter, Holdings Channel reports. The firm owned 12,432 shares of the credit-card processor’s stock after acquiring an additional 10,427 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Visa were worth $3,932,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new position in Visa in the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter valued at about $27,000. POM Investment Strategies LLC boosted its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Visa during the 4th quarter valued at about $32,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Visa during the 4th quarter valued at about $32,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,855 shares of company stock valued at $35,165,827. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on V shares. Barclays lifted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price target on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $393.00 price target (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Finally, Susquehanna raised their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Price Performance

Shares of Visa stock opened at $334.30 on Wednesday. The firm has a market cap of $621.06 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $338.84 and its two-hundred day simple moving average is $312.02.

Visa (NYSE:V) last announced its quarterly earnings results 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 net margin of 54.27% and a return on equity of 54.79%. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

About Visa

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.