Daymark Wealth Partners LLC Cuts Holdings in Visa Inc. (NYSE:V)

Daymark Wealth Partners LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,150 shares of the credit-card processor’s stock after selling 976 shares during the period. Visa makes up approximately 1.8% of Daymark Wealth Partners LLC’s holdings, making the stock its 14th biggest holding. Daymark Wealth Partners LLC’s holdings in Visa were worth $55,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Luts & Greenleigh Group Inc. grew its position in Visa by 2.5% in the fourth quarter. Luts & Greenleigh Group Inc. now owns 1,700 shares of the credit-card processor’s stock worth $537,000 after acquiring an additional 42 shares in the last quarter. Phoenix Wealth Advisors raised its holdings in shares of Visa by 3.4% in the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock worth $305,000 after buying an additional 32 shares during the period. Albion Financial Group UT boosted its holdings in Visa by 1.8% during the 4th quarter. Albion Financial Group UT now owns 67,002 shares of the credit-card processor’s stock valued at $21,175,000 after acquiring an additional 1,200 shares during the period. Eagle Wealth Strategies LLC lifted its position in shares of Visa by 5.4% during the fourth quarter. Eagle Wealth Strategies LLC now owns 1,580 shares of the credit-card processor’s stock worth $499,000 after purchasing an additional 81 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its stake in shares of Visa by 5.7% during the fourth quarter. Global Trust Asset Management LLC now owns 11,329 shares of the credit-card processor’s stock valued at $3,581,000 after purchasing an additional 614 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Price Performance

NYSE:V opened at $330.20 on Friday. The firm’s fifty day moving average is $314.54 and its two-hundred day moving average is $289.98. The firm has a market cap of $615.11 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $331.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Analyst Ratings Changes

A number of analysts recently issued reports on V shares. Piper Sandler boosted their price target on Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a report on Friday. Barclays upped their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Morgan Stanley lifted their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets increased their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

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.