OMC Financial Services LTD Has $18.74 Million Position in Visa Inc. $V

OMC Financial Services LTD cut its holdings in Visa Inc. (NYSE:V) by 3.5% in the second quarter, HoldingsChannel reports. The firm owned 52,779 shares of the credit-card processor’s stock after selling 1,913 shares during the period. Visa accounts for approximately 7.7% of OMC Financial Services LTD’s portfolio, making the stock its 4th biggest holding. OMC Financial Services LTD’s holdings in Visa were worth $18,739,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of V. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the second quarter worth $29,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.4%

Shares of V opened at $347.34 on Friday. The company has a 50-day simple moving average of $344.79 and a 200-day simple moving average of $347.60. The firm has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on V shares. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. 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 report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Friday. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, Barclays reissued an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $392.75.

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.