OMC Financial Services LTD Reduces Position in Visa Inc. $V

Key Points

• OMC Financial Services LTD reduced its position in Visa Inc. by 3.5%, owning 52,779 shares after selling 1,913 shares during the second quarter.
• Visa reported $2.98 earnings per share (EPS) for the quarter, surpassing estimates by $0.13, and its revenue increased by 14.3% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield, with a payout ratio of 23.05%.

OMC Financial Services LTD decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,779 shares of the credit-card processor's stock after selling 1,913 shares during the period. Visa accounts for about 7.7% of OMC Financial Services LTD's investment portfolio, making the stock its 4th largest holding. OMC Financial Services LTD's holdings in Visa were worth $18,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new position in shares of Visa in the first quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the first quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter valued at $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa in the second quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC increased its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after buying an additional 41 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

Shares of NYSE:V opened at $347.34 on Friday. The company's fifty day moving average is $344.79 and its two-hundred day moving average is $347.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The company has a market cap of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

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

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a report on Friday. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $392.75.

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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