Oak Harbor Wealth Partners LLC Sells 3,593 Shares of Visa Inc. (NYSE:V)

Oak Harbor Wealth Partners LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,944 shares of the credit-card processor’s stock after selling 3,593 shares during the period. Visa accounts for approximately 1.6% of Oak Harbor Wealth Partners LLC’s investment portfolio, making the stock its 15th biggest position. Oak Harbor Wealth Partners LLC’s holdings in Visa were worth $5,355,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Riverstone Advisors LLC bought a new position in shares of Visa in the 4th quarter worth about $217,000. Journey Strategic Wealth LLC raised its position in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after acquiring an additional 1,361 shares in the last quarter. Copley Financial Group Inc. bought a new position in shares of Visa in the 3rd quarter worth about $616,000. Calamos Wealth Management LLC raised its position in shares of Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after acquiring an additional 435 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its position in shares of Visa by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after acquiring an additional 4,198 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. The trade was a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,505 shares of company stock worth $22,290,507 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

NYSE:V opened at $345.79 on Friday. 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 $366.54. The firm has a market cap of $642.41 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.33 and a beta of 0.95. The business’s fifty day moving average is $336.18 and its 200 day moving average is $308.35.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup reissued a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Wells Fargo & Company raised their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Susquehanna raised their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Raymond James reissued an “outperform” rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Finally, Barclays raised their price objective on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $353.96.

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.