OFI Invest Asset Management Sells 8,523 Shares of Visa Inc. $V

OFI Invest Asset Management trimmed its position in Visa Inc. (NYSE:V) by 5.3% during the second quarter, HoldingsChannel.com reports. The fund owned 151,140 shares of the credit-card processor’s stock after selling 8,523 shares during the quarter. OFI Invest Asset Management’s holdings in Visa were worth $53,662,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Lodestar Private Asset Management LLC increased its stake in Visa by 13.5% in the second quarter. Lodestar Private Asset Management LLC now owns 2,589 shares of the credit-card processor’s stock valued at $919,000 after acquiring an additional 307 shares during the last quarter. Ackerman Capital Advisors LLC increased its stake in Visa by 1.4% in the second quarter. Ackerman Capital Advisors LLC now owns 3,525 shares of the credit-card processor’s stock valued at $1,252,000 after acquiring an additional 49 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its stake in Visa by 1.3% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 5,310 shares of the credit-card processor’s stock valued at $1,885,000 after acquiring an additional 67 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Visa by 19.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 262,665 shares of the credit-card processor’s stock valued at $93,545,000 after acquiring an additional 42,008 shares during the last quarter. Finally, Oak Ridge Investments LLC increased its stake in Visa by 1.0% in the second quarter. Oak Ridge Investments LLC now owns 80,057 shares of the credit-card processor’s stock valued at $28,424,000 after acquiring an additional 821 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on V shares. Macquarie boosted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley boosted their target price on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Visa Stock Performance

Shares of Visa stock opened at $345.81 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $278.35 and a twelve month high of $375.51. The stock has a market cap of $633.80 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 2.06 and a beta of 0.90. The company’s fifty day moving average is $344.14 and its 200 day moving average is $346.97.

Visa (NYSE:V) last issued its quarterly earnings data 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 net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

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

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.