McKinley Carter Wealth Services Inc. Sells 365 Shares of Visa Inc. $V

McKinley Carter Wealth Services Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,399 shares of the credit-card processor’s stock after selling 365 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Visa were worth $2,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in shares of Visa in the first quarter worth $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the second quarter worth $28,000. Cranbrook Wealth Management LLC increased its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the period. Finally, 1 North Wealth Services LLC bought a new stake in Visa in the first quarter valued at $38,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on V shares. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an “outperform” rating in a report on Monday, October 6th. Barclays reaffirmed an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Macquarie lifted their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

Visa Trading Down 0.2%

Shares of NYSE:V opened at $343.05 on Tuesday. The stock has a 50 day moving average of $343.79 and a 200 day moving average of $346.97. The company has a market cap of $628.73 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $277.99 and a 12-month high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company posted $2.42 EPS. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

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.