Destination Wealth Management Sells 2,541 Shares of Visa Inc. (NYSE:V)

Destination Wealth Management lessened its holdings in Visa Inc. (NYSE:V) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 184,426 shares of the credit-card processor’s stock after selling 2,541 shares during the period. Visa makes up 1.8% of Destination Wealth Management’s portfolio, making the stock its 19th biggest position. Destination Wealth Management’s holdings in Visa were worth $58,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its position in Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC lifted its position in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the period. Valmark Advisers Inc. lifted its position in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its position in Visa by 0.4% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 30 shares during the period. Finally, Crescent Grove Advisors LLC lifted its position in Visa by 2.2% during the 4th quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after purchasing an additional 31 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on V shares. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Bank of America increased their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays increased their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Six 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Price Performance

NYSE:V opened at $343.81 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $335.63 and a 200 day simple moving average of $307.80. The stock has a market capitalization of $638.72 billion, a PE ratio of 34.66, a P/E/G ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa’s dividend payout ratio is presently 23.79%.

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.