Haverford Trust Co Sells 2,967 Shares of Visa Inc. $V

Haverford Trust Co lessened its holdings in Visa Inc. (NYSE:V) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,135 shares of the credit-card processor’s stock after selling 2,967 shares during the period. Haverford Trust Co’s holdings in Visa were worth $27,837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cresta Advisors Ltd. purchased a new position in shares of Visa during the 4th quarter valued at about $26,000. Parvin Asset Management LLC boosted its stake in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 50 shares during the period. Virtus Advisers LLC bought a new position in shares of Visa in the second quarter worth about $33,000. RHL Group LLC purchased a new stake in shares of Visa during the fourth quarter worth about $34,000. Finally, Timmons Wealth Management LLC bought a new stake in Visa during the 4th quarter valued at approximately $34,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V opened at $371.09 on Friday. The company has a market cap of $662.18 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $353.73 and its 200-day moving average price is $329.64. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.Visa’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the company earned $2.98 earnings per share. Sell-side analysts predict that Visa Inc. will post 13.16 earnings per share for the current year.

Visa declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 22.79%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $432.00 price objective (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Erste Group Bank upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $412.00 target price (up from $395.00) on shares of Visa in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and a consensus price target of $413.58.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.