Private Harbour Investment Management & Counsel LLC Has $2.10 Million Stock Holdings in Visa Inc. (NYSE:V)

Private Harbour Investment Management & Counsel LLC cut its stake in Visa Inc. (NYSE:V) by 1.6% during the first quarter, HoldingsChannel reports. The fund owned 7,533 shares of the credit-card processor’s stock after selling 124 shares during the quarter. Visa comprises approximately 2.3% of Private Harbour Investment Management & Counsel LLC’s holdings, making the stock its 17th biggest position. Private Harbour Investment Management & Counsel LLC’s holdings in Visa were worth $2,102,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Maryland Capital Advisors Inc. increased its position in Visa by 176.7% during the first quarter. Maryland Capital Advisors Inc. now owns 415 shares of the credit-card processor’s stock worth $116,000 after buying an additional 265 shares during the last quarter. Bennett Selby Investments LP increased its position in Visa by 0.8% during the first quarter. Bennett Selby Investments LP now owns 53,980 shares of the credit-card processor’s stock worth $15,065,000 after buying an additional 453 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Visa by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 133,963 shares of the credit-card processor’s stock worth $37,386,000 after buying an additional 618 shares during the last quarter. Optimum Investment Advisors increased its position in Visa by 10.9% during the first quarter. Optimum Investment Advisors now owns 3,857 shares of the credit-card processor’s stock worth $1,076,000 after buying an additional 380 shares during the last quarter. Finally, Guinness Asset Management LTD increased its position in Visa by 9.2% during the first quarter. Guinness Asset Management LTD now owns 125,905 shares of the credit-card processor’s stock worth $35,138,000 after buying an additional 10,628 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.6 %

Shares of V opened at $275.22 on Friday. The stock has a market cap of $503.36 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $225.50 and a 12 month high of $290.96. The company has a 50-day moving average price of $273.97 and a two-hundred day moving average price of $273.01.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 earnings per share. Equities analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock valued at $9,559,382 in the last three months. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on V shares. Wells Fargo & Company increased their target price on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Piper Sandler assumed coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target on the stock. TD Cowen assumed coverage on Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Macquarie raised their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Citigroup raised their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $303.76.

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.