Oak Harbor Wealth Partners LLC Sells 383 Shares of Visa Inc. (NYSE:V)

Oak Harbor Wealth Partners LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,745 shares of the credit-card processor’s stock after selling 383 shares during the quarter. Visa makes up 1.8% of Oak Harbor Wealth Partners LLC’s portfolio, making the stock its 14th largest position. Oak Harbor Wealth Partners LLC’s holdings in Visa were worth $5,401,000 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 the stock. FMR LLC grew its position in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after buying an additional 2,257,605 shares during the last quarter. Northern Trust Corp lifted its stake in Visa by 4.7% during the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after acquiring an additional 763,505 shares during the period. Norges Bank acquired a new stake in Visa during the 4th quarter valued at approximately $3,895,015,000. Ameriprise Financial Inc. lifted its stake in Visa by 2.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after acquiring an additional 374,489 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V traded down $1.78 during midday trading on Thursday, reaching $273.80. The stock had a trading volume of 2,757,221 shares, compared to its average volume of 6,307,558. The firm has a fifty day simple moving average of $277.12 and a two-hundred day simple moving average of $269.46. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $500.76 billion, a P/E ratio of 30.74, a P/E/G ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.09 EPS. On average, equities analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

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

Analysts Set New Price Targets

A number of research firms have weighed in on V. Raymond James upped their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. UBS Group upped their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup upped their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, TD Cowen assumed coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $303.76.

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.