Oppenheimer & Co. Inc. Cuts Stock Position in Visa Inc. (NYSE:V)

Oppenheimer & Co. Inc. lessened its holdings in Visa Inc. (NYSE:V) by 2.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 180,065 shares of the credit-card processor’s stock after selling 3,864 shares during the period. Visa accounts for approximately 0.8% of Oppenheimer & Co. Inc.’s holdings, making the stock its 16th biggest position. Oppenheimer & Co. Inc.’s holdings in Visa were worth $47,262,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brio Consultants LLC boosted its holdings in shares of Visa by 39.1% during the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after purchasing an additional 437 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of Visa by 2.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after acquiring an additional 158 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in shares of Visa by 9.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock valued at $730,000 after acquiring an additional 235 shares during the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Visa by 20.8% in the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of Visa by 53.8% in the 4th quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after acquiring an additional 4,774 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of V opened at $285.37 on Friday. The firm has a market capitalization of $520.03 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company’s fifty day moving average price is $267.95 and its 200-day moving average price is $273.29.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. On average, equities research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on V shares. Compass Point started coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.81.

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.