McKinley Carter Wealth Services Inc. Sells 91 Shares of Visa Inc. (NYSE:V)

McKinley Carter Wealth Services Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,548 shares of the credit-card processor’s stock after selling 91 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Visa were worth $2,350,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of V. Westend Capital Management LLC bought a new position in shares of Visa during the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa during the 2nd quarter worth $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. BMO Capital Markets boosted their price objective on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Oppenheimer began coverage on shares of Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $313.81.

Visa Stock Performance

NYSE:V opened at $287.51 on Thursday. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day moving average of $275.69 and a 200 day moving average of $272.74. The company has a market capitalization of $525.83 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Visa Profile

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.