Oppenheimer & Co. Inc. Boosts Stock Position in Visa Inc. $V

Oppenheimer & Co. Inc. grew its holdings in shares of Visa Inc. (NYSE:V) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,848 shares of the credit-card processor’s stock after buying an additional 2,883 shares during the period. Visa accounts for 0.8% of Oppenheimer & Co. Inc.’s portfolio, making the stock its 17th biggest position. Oppenheimer & Co. Inc.’s holdings in Visa were worth $61,738,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in V. Sonoma Allocations LLC purchased a new stake in Visa in the third quarter valued at about $710,000. AQR Capital Management LLC increased its stake in Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after purchasing an additional 21,401 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of Visa by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after buying an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Visa by 2.6% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after buying an additional 14,581 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after buying an additional 159,906 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $411.00 target price (up previously from $398.00) on shares of Visa in a report on Friday, January 30th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a report on Friday, January 30th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $395.00 price target on shares of Visa in a research report on Friday, January 30th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $392.29.

Visa Stock Up 0.8%

Shares of V opened at $331.82 on Monday. The stock has a 50 day moving average price of $338.50 and a 200 day moving average price of $340.77. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $602.31 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.90 and a beta of 0.79.

Visa (NYSE:V) last released its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the company posted $2.75 EPS. The business’s revenue was up 14.6% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is presently 25.14%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.