McKinley Carter Wealth Services Inc. Sells 573 Shares of Visa Inc. (NYSE:V)

McKinley Carter Wealth Services Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 6.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,764 shares of the credit-card processor’s stock after selling 573 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Visa were worth $2,721,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the 4th quarter worth approximately $27,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Compass Planning Associates Inc acquired a new stake in shares of Visa in the 4th quarter valued at approximately $32,000. NewSquare Capital LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. boosted its holdings in shares of Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Macquarie cut their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Citigroup started coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Five 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 stock has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Up 0.7%

Shares of NYSE V opened at $373.19 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock has a market capitalization of $688.59 billion, a P/E ratio of 37.62, a PEG ratio of 2.33 and a beta of 0.94. The stock’s fifty day moving average is $347.68 and its 200 day moving average is $336.77.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $362.77, for a total value of $3,127,077.40. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,162 shares of company stock worth $58,645,479. Company insiders own 0.13% of the company’s stock.

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.