Stage Harbor Financial LLC Sells 188 Shares of Visa Inc. (NYSE:V)

Stage Harbor Financial LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,577 shares of the credit-card processor’s stock after selling 188 shares during the period. Visa accounts for about 0.4% of Stage Harbor Financial LLC’s investment portfolio, making the stock its 29th largest holding. Stage Harbor Financial LLC’s holdings in Visa were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Duncan Williams Asset Management LLC bought a new stake in shares of Visa in the 1st quarter worth $1,188,000. Orrstown Financial Services Inc. lifted its stake in Visa by 2.6% during the 1st quarter. Orrstown Financial Services Inc. now owns 6,247 shares of the credit-card processor’s stock valued at $1,743,000 after acquiring an additional 161 shares during the period. Moody National Bank Trust Division boosted its holdings in shares of Visa by 0.5% during the 1st quarter. Moody National Bank Trust Division now owns 28,167 shares of the credit-card processor’s stock valued at $7,861,000 after acquiring an additional 135 shares during the last quarter. Davis Capital Management grew its stake in shares of Visa by 1.8% in the first quarter. Davis Capital Management now owns 6,342 shares of the credit-card processor’s stock worth $1,765,000 after acquiring an additional 111 shares during the period. Finally, Capital Market Strategies LLC purchased a new position in shares of Visa during the first quarter valued at approximately $210,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie reissued an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Finally, BMO Capital Markets lifted their target price on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.81.

Visa Stock Performance

Shares of V opened at $280.02 on Wednesday. The stock has a 50-day moving average of $275.07 and a two-hundred day moving average of $272.63. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $512.14 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.92 and a beta of 0.96. Visa Inc. has a one year low of $228.03 and a one year high of $293.07.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.