Visa Inc. (NYSE:V) Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 4.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,056 shares of the credit-card processor’s stock after purchasing an additional 3,071 shares during the period. Harvest Portfolios Group Inc.’s holdings in Visa were worth $18,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. KMG Fiduciary Partners LLC grew its stake in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares during the period. Iron Horse Wealth Management LLC boosted its holdings in Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after buying an additional 37 shares in the last quarter. Tlwm grew its position in Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares during the period. Meridian Financial Partners LLC increased its holdings in Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after buying an additional 38 shares in the last quarter. Finally, First National Corp MA ADV lifted its position in shares of Visa by 1.0% during the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock valued at $1,056,000 after acquiring an additional 38 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 4.8 %

Shares of Visa stock opened at $307.36 on Thursday. The company has a fifty day moving average price of $282.69 and a 200 day moving average price of $274.20. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a twelve month low of $240.97 and a twelve month high of $309.00. The stock has a market cap of $560.11 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.