Oppenheimer & Co. Inc. Has $50.07 Million Stock Holdings in Visa Inc. (NYSE:V)

Oppenheimer & Co. Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 182,119 shares of the credit-card processor’s stock after buying an additional 2,054 shares during the quarter. Visa makes up approximately 0.8% of Oppenheimer & Co. Inc.’s holdings, making the stock its 17th largest holding. Oppenheimer & Co. Inc.’s holdings in Visa were worth $50,074,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its stake in shares of Visa by 8.6% during the third quarter. Cornerstone Planning Group LLC now owns 495 shares of the credit-card processor’s stock worth $140,000 after buying an additional 39 shares during the last quarter. Pinnacle Financial Partners Inc grew its stake in shares of Visa by 0.3% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 428,607 shares of the credit-card processor’s stock valued at $117,846,000 after buying an additional 1,372 shares during the period. Souders Financial Advisors grew its holdings in shares of Visa by 1.8% during the third quarter. Souders Financial Advisors now owns 21,985 shares of the credit-card processor’s stock valued at $6,045,000 after buying an additional 391 shares during the last quarter. Haverford Trust Co raised its holdings in shares of Visa by 1.8% in the third quarter. Haverford Trust Co now owns 84,804 shares of the credit-card processor’s stock valued at $23,317,000 after purchasing an additional 1,505 shares during the last quarter. Finally, Empower Advisory Group LLC increased its position in shares of Visa by 9.3% during the third quarter. Empower Advisory Group LLC now owns 18,337 shares of the credit-card processor’s stock valued at $5,042,000 after acquiring an additional 1,560 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

V traded down $1.48 on Wednesday, hitting $308.37. 273,373 shares of the stock were exchanged, compared to its average volume of 6,997,740. Visa Inc. has a 12 month low of $245.34 and a 12 month high of $312.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The business has a 50-day moving average of $285.26 and a two-hundred day moving average of $275.17. The firm has a market capitalization of $561.95 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio is currently 21.38%.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Mizuho increased their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

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.