Visa Inc. $V Stock Holdings Lessened by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its stake in Visa Inc. (NYSE:V) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 256,777 shares of the credit-card processor’s stock after selling 6,250 shares during the quarter. Visa comprises approximately 2.1% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 10th biggest position. E. Ohman J or Asset Management AB’s holdings in Visa were worth $87,659,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Family Legacy Financial Solutions LLC purchased a new position in Visa in the 2nd quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. acquired a new position in shares of Visa during the second quarter valued at approximately $31,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Finally, Bare Financial Services Inc lifted its position in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.1%

Shares of V opened at $354.62 on Tuesday. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The firm has a market capitalization of $646.03 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.09 and a beta of 0.82. The firm has a 50-day moving average price of $338.81 and a 200 day moving average price of $343.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, November 12th. Visa’s payout ratio is currently 26.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Evercore ISI set a $380.00 price target on shares of Visa in a research report on Friday, December 12th. Finally, Morgan Stanley set a $398.00 price objective on shares of Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Five research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $402.52.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 24,042 shares of company stock worth $8,175,152. Company insiders own 0.12% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.