OFI Invest Asset Management Sells 8,523 Shares of Visa Inc. $V

OFI Invest Asset Management lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,140 shares of the credit-card processor's stock after selling 8,523 shares during the period. OFI Invest Asset Management's holdings in Visa were worth $53,662,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa in the 1st quarter valued at about $38,000. Institutional investors own 82.15% of the company's stock.

Visa Trading Down 0.7%

Shares of V stock opened at $345.81 on Thursday. The firm has a 50 day moving average price of $344.14 and a two-hundred day moving average price of $346.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $633.80 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 12-month low of $278.35 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $2.42 earnings per share. As a group, analysts predict 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. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were 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 in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. The trade was 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 insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. Barclays restated an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Truist Financial decreased their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a report on Wednesday, October 8th. Finally, Macquarie lifted their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Visa Company 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.

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