Visa Inc. $V Position Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its stake in shares of Visa Inc. (NYSE:V) by 9.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 360,951 shares of the credit-card processor’s stock after selling 38,563 shares during the period. Visa accounts for 1.4% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Oppenheimer Asset Management Inc.’s holdings in Visa were worth $123,221,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Transcendent Capital Group LLC grew its holdings in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after acquiring an additional 29 shares during the last quarter. Old Port Advisors grew its holdings in shares of Visa by 0.9% in the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock valued at $1,169,000 after purchasing an additional 29 shares in the last quarter. Interchange Capital Partners LLC grew its holdings in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares in the last quarter. Finally, Carr Financial Group Corp increased its position in Visa by 2.4% in the third quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock worth $440,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. Rothschild & Co Redburn set a $385.00 price target on shares of Visa in a report on Wednesday, January 28th. Evercore set a $380.00 price target on Visa in a research report on Friday, December 12th. Daiwa America upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $411.00 price objective (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and a consensus price target of $392.29.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

Visa Stock Up 0.8%

Shares of NYSE V opened at $331.82 on Monday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The firm has a 50-day simple moving average of $338.50 and a two-hundred day simple moving average of $340.77. The company has a market cap of $602.31 billion, a P/E ratio of 31.13, a PEG ratio of 1.90 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

Visa (NYSE:V) last released its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the firm posted $2.75 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

Visa Profile

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.