OMC Financial Services LTD Trims Stake in Visa Inc. (NYSE:V)

OMC Financial Services LTD lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,692 shares of the credit-card processor's stock after selling 1,676 shares during the period. Visa accounts for 8.6% of OMC Financial Services LTD's investment portfolio, making the stock its 4th largest position. OMC Financial Services LTD's holdings in Visa were worth $19,168,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. von Borstel & Associates Inc. purchased a new position in shares of Visa in the 1st quarter valued at about $27,000. Sellwood Investment Partners LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new position in Visa in the 4th quarter valued at approximately $47,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the 4th quarter valued at approximately $47,000. Finally, Navigoe LLC purchased a new position in Visa during the fourth quarter worth $53,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Down 2.3%

NYSE:V traded down $8.17 on Friday, hitting $347.71. 7,577,927 shares of the company's stock were exchanged, compared to its average volume of 6,821,741. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50-day moving average price of $356.93 and a 200-day moving average price of $342.37. The company has a market cap of $641.58 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 EPS. Visa's quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Macquarie reduced their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

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.