Oak Asset Management LLC Lowers Stock Holdings in Visa Inc. (NYSE:V)

Oak Asset Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,297 shares of the credit-card processor’s stock after selling 443 shares during the quarter. Visa makes up about 2.1% of Oak Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Oak Asset Management LLC’s holdings in Visa were worth $5,711,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in V. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter worth $27,000. POM Investment Strategies LLC boosted its position in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc purchased a new stake in Visa during the 4th quarter worth $32,000. FPC Investment Advisory Inc. increased its holdings in Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after purchasing an additional 83 shares in the last quarter. Finally, NewSquare Capital LLC purchased a new position in Visa in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,807.49. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of Visa stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,948 shares of company stock valued at $41,546,299. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Visa stock opened at $368.04 on Thursday. The company has a market capitalization of $679.09 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $371.75. The stock’s 50 day moving average is $344.66 and its 200-day moving average is $334.72.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $2.51 earnings per share. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. Finally, Truist Financial initiated coverage on shares of Visa in a research note on Monday. They issued a “buy” rating and a $400.00 target price for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

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.