Oppenheimer Asset Management Inc. reduced its position in Visa Inc. (NYSE:V) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 250,755 shares of the credit-card processor’s stock after selling 19,531 shares during the period. Visa comprises approximately 0.6% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 22nd largest position. Oppenheimer Asset Management Inc.’s holdings in Visa were worth $23,515,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearbridge Investments LLC lifted its stake in shares of Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after buying an additional 2,677,533 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in Visa by 10,570.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,598,668 shares of the credit-card processor’s stock valued at $17,047,000 after buying an additional 1,583,686 shares during the period. Swiss National Bank grew its holdings in shares of Visa by 23.2% in the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after purchasing an additional 1,388,200 shares during the last quarter. Akre Capital Management LLC grew its holdings in shares of Visa by 35.0% in the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock worth $434,487,000 after purchasing an additional 1,267,080 shares during the last quarter. Finally, Karp Capital Management Corp grew its holdings in shares of Visa by 3,256.5% in the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after purchasing an additional 941,581 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. Jefferies Group restated a “buy” rating and set a $125.00 target price (up from $112.00) on shares of Visa in a research report on Tuesday, October 17th. BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Robert W. Baird reissued an “outperform” rating and issued a $128.00 target price (up from $122.00) on shares of Visa in a research note on Monday, October 2nd. Morgan Stanley raised their price target on Visa from $125.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $120.00 price target on shares of Visa in a report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $117.08.
Shares of Visa Inc. (NYSE:V) traded up $1.66 during trading hours on Thursday, hitting $111.40. The stock had a trading volume of 7,382,437 shares, compared to its average volume of 7,660,255. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. Visa Inc. has a one year low of $77.19 and a one year high of $113.62. The firm has a market capitalization of $252,180.00, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Visa’s revenue for the quarter was up 13.9% on a year-over-year basis. research analysts anticipate that Visa Inc. will post 4.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Friday, November 17th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.78 annualized dividend and a yield of 0.70%. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio is 27.86%.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the transaction, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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