Bar Harbor Wealth Management Sells 1,143 Shares of Visa Inc. (NYSE:V)

Bar Harbor Wealth Management cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 9.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,120 shares of the credit-card processor's stock after selling 1,143 shares during the period. Bar Harbor Wealth Management's holdings in Visa were worth $3,897,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Visa during the 4th quarter worth about $5,171,271,000. GAMMA Investing LLC grew its holdings in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. increased its position in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Visa in the fourth quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC lifted its position in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BMO Capital Markets boosted their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Truist Financial started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. Finally, Macquarie reduced their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,448 shares of company stock worth $50,133,659. Corporate insiders own 0.13% of the company's stock.

Visa Price Performance

V traded down $18.65 during trading on Friday, hitting $352.75. 14,176,249 shares of the stock traded hands, compared to its average volume of 7,017,457. The business has a 50 day moving average price of $349.76 and a 200 day moving average price of $337.61. The company has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.51 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is currently 23.72%.

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.