Bar Harbor Wealth Management Sells 490 Shares of Visa Inc. (NYSE:V)

Bar Harbor Wealth Management decreased its holdings in Visa Inc. (NYSE:V) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,447 shares of the credit-card processor’s stock after selling 490 shares during the quarter. Bar Harbor Wealth Management’s holdings in Visa were worth $3,422,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of V. Perpetual Ltd boosted its position in Visa by 0.8% during the first quarter. Perpetual Ltd now owns 6,344 shares of the credit-card processor’s stock valued at $1,770,000 after acquiring an additional 52 shares during the last quarter. Abacus Wealth Partners LLC bought a new stake in Visa during the first quarter valued at $383,000. Banque Cantonale Vaudoise boosted its position in Visa by 16.5% during the first quarter. Banque Cantonale Vaudoise now owns 107,760 shares of the credit-card processor’s stock valued at $30,071,000 after acquiring an additional 15,238 shares during the last quarter. Wedmont Private Capital boosted its position in Visa by 5.4% during the first quarter. Wedmont Private Capital now owns 14,544 shares of the credit-card processor’s stock valued at $4,025,000 after acquiring an additional 741 shares during the last quarter. Finally, Grandview Asset Management LLC boosted its position in Visa by 2.1% during the first quarter. Grandview Asset Management LLC now owns 5,804 shares of the credit-card processor’s stock valued at $1,620,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value 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 approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Evercore ISI cut their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Macquarie reissued an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Trading Up 1.0 %

Shares of V stock opened at $290.38 on Friday. The company has a 50 day moving average of $276.30 and a 200-day moving average of $272.86. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The firm has a market cap of $531.09 billion, a P/E ratio of 32.44, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business posted $2.16 EPS. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s payout ratio is currently 23.24%.

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.