Daymark Wealth Partners LLC Buys 9,611 Shares of Visa Inc. (NYSE:V)

Daymark Wealth Partners LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 5.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 183,761 shares of the credit-card processor’s stock after purchasing an additional 9,611 shares during the quarter. Visa comprises approximately 2.2% of Daymark Wealth Partners LLC’s holdings, making the stock its 9th biggest position. Daymark Wealth Partners LLC’s holdings in Visa were worth $64,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa during the 4th quarter worth about $27,000. POM Investment Strategies LLC grew its position in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Visa during the 4th quarter worth about $32,000. NewSquare Capital LLC purchased a new stake in shares of Visa during the 4th quarter worth about $35,000. Finally, FPC Investment Advisory Inc. boosted its stake in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after acquiring an additional 83 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Macquarie lowered their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Truist Financial initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 target price on the stock. UBS Group increased their target price on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a research note on Thursday. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Trading Up 1.0%

V opened at $370.44 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50 day simple moving average is $345.45 and its two-hundred day simple moving average is $335.88. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $371.83. The firm has a market capitalization of $683.52 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company posted $2.51 EPS. The business’s revenue was up 9.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced 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 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock valued at $58,645,479 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.