Destiny Wealth Partners LLC Decreases Stake in Visa Inc. (NYSE:V)

Destiny Wealth Partners LLC lowered its holdings in Visa Inc. (NYSE:V) by 31.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,147 shares of the credit-card processor’s stock after selling 521 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Visa were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Visa in the third quarter worth $25,000. Livelsberger Financial Advisory bought a new stake in shares of Visa in the fourth quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the fourth quarter worth $32,000. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the fourth quarter worth $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Visa in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,402 shares of company stock worth $9,559,382. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE:V opened at $276.85 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $506.34 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.87 and a beta of 0.97. Visa Inc. has a 12 month low of $224.98 and a 12 month high of $290.96. The business’s 50-day moving average is $273.99 and its 200 day moving average is $272.74.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wedbush boosted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Evercore ISI boosted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, Wells Fargo & Company boosted their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $303.76.

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.