Daymark Wealth Partners LLC Sells 89,292 Shares of Visa Inc. (NYSE:V)

Daymark Wealth Partners LLC trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 51.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,858 shares of the credit-card processor's stock after selling 89,292 shares during the period. Visa makes up about 1.3% of Daymark Wealth Partners LLC's portfolio, making the stock its 13th biggest position. Daymark Wealth Partners LLC's holdings in Visa were worth $29,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Bradley & Co. Private Wealth Management LLC bought a new position in Visa during the 4th quarter valued at about $27,000. NewSquare Capital LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $35,000. Sellwood Investment Partners LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Visa during the fourth quarter valued at approximately $47,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Down 1.6%

NYSE V opened at $345.87 on Thursday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a 50 day moving average price of $352.56 and a 200 day moving average price of $339.31. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $638.19 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm posted $2.51 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group boosted their price objective on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Finally, Susquehanna reissued a "positive" rating on shares of Visa in a research report on Friday, March 21st. Five investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

About Visa

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.

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