Oak Ridge Investments LLC Has $28.42 Million Stake in Visa Inc. $V

Key Points

• Oak Ridge Investments LLC increased its stake in Visa Inc. by 1.0%, owning 80,057 shares worth approximately $28.42 million as of the latest SEC filing.
• Analysts have set new price targets for Visa, with Morgan Stanley raising the target from $386 to $402 and Macquarie increasing it to $425, reflecting a generally positive outlook among analysts.
• Visa announced a quarterly dividend of $0.59 per share, which was paid on September 2nd, representing an annualized yield of 0.7% and a payout ratio of 23.05%.

Oak Ridge Investments LLC grew its position in Visa Inc. (NYSE:V - Free Report) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,057 shares of the credit-card processor's stock after acquiring an additional 821 shares during the quarter. Visa accounts for about 2.0% of Oak Ridge Investments LLC's holdings, making the stock its 10th largest position. Oak Ridge Investments LLC's holdings in Visa were worth $28,424,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Muirfield Wealth Advisors LLC lifted its position in shares of Visa by 5.9% in the 2nd quarter. Muirfield Wealth Advisors LLC now owns 1,464 shares of the credit-card processor's stock worth $520,000 after acquiring an additional 81 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Visa by 9.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 76,781 shares of the credit-card processor's stock worth $27,261,000 after acquiring an additional 6,879 shares during the period. Cerro Pacific Wealth Advisors LLC lifted its position in shares of Visa by 15.8% in the 2nd quarter. Cerro Pacific Wealth Advisors LLC now owns 2,680 shares of the credit-card processor's stock worth $951,000 after acquiring an additional 366 shares during the period. waypoint wealth counsel lifted its position in shares of Visa by 27.0% in the 2nd quarter. waypoint wealth counsel now owns 1,455 shares of the credit-card processor's stock worth $517,000 after acquiring an additional 309 shares during the period. Finally, Matrix Asset Advisors Inc. NY lifted its position in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock worth $402,000 after acquiring an additional 164 shares during the period. Institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an "outperform" rating in a research report on Monday, October 6th. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Trading Down 0.7%

V stock opened at $345.81 on Thursday. The business has a fifty day moving average price of $344.14 and a 200 day moving average price of $346.97. Visa Inc. has a fifty-two week low of $278.35 and a fifty-two week high of $375.51. The stock has a market capitalization 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 has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the firm posted $2.42 EPS. The business's revenue was up 14.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

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.

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