Oak Harbor Wealth Partners LLC Sells 256 Shares of Visa Inc. (NYSE:V)

Oak Harbor Wealth Partners LLC cut its stake in Visa Inc. (NYSE:V) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,537 shares of the credit-card processor’s stock after selling 256 shares during the quarter. Visa comprises about 1.6% of Oak Harbor Wealth Partners LLC’s portfolio, making the stock its 16th biggest position. Oak Harbor Wealth Partners LLC’s holdings in Visa were worth $5,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Arjuna Capital increased its position in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares in the last quarter. Custom Index Systems LLC acquired a new position in Visa during the 3rd quarter valued at about $731,000. Mechanics Bank Trust Department raised its stake in Visa by 8.0% in the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after buying an additional 2,410 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Visa by 46.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after acquiring an additional 16,078 shares in the last quarter. Finally, Chicago Capital LLC grew its stake in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Down 0.4 %

Shares of NYSE:V opened at $308.27 on Friday. Visa Inc. has a 52-week low of $245.34 and a 52-week high of $312.44. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $285.84 and a two-hundred day moving average of $275.41. The stock has a market cap of $561.76 billion, a P/E ratio of 31.68, a PEG ratio of 2.07 and a beta of 0.95.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.