Daymark Wealth Partners LLC Grows Stake in Visa Inc. (NYSE:V)

Daymark Wealth Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 5.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 183,761 shares of the credit-card processor’s stock after buying an additional 9,611 shares during the quarter. Visa accounts for about 2.2% of Daymark Wealth Partners LLC’s investment portfolio, making the stock its 9th biggest position. Daymark Wealth Partners LLC’s holdings in Visa were worth $64,401,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on V shares. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target for the company. Truist Financial assumed coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target for the company. Finally, Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $372.80.

Visa Price Performance

Shares of V stock opened at $370.44 on Monday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.83. The firm has a market capitalization of $683.52 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day simple moving average is $345.45 and its 200-day simple moving average is $335.88.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share 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 business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.3 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 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $58,645,479 in the last ninety days. 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.