Oppenheimer Asset Management Inc. Purchases 4,301 Shares of Visa Inc. (NYSE:V)

Oppenheimer Asset Management Inc. grew its position in Visa Inc. (NYSE:V) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 442,059 shares of the credit-card processor’s stock after buying an additional 4,301 shares during the quarter. Visa accounts for about 1.5% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 7th largest holding. Oppenheimer Asset Management Inc.’s holdings in Visa were worth $121,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. WFA Asset Management Corp boosted its position in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Visa by 46.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after purchasing an additional 16,078 shares during the period. Empowered Funds LLC lifted its stake in Visa by 16.0% in the first quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after buying an additional 8,086 shares during the period. First National Bank of Hutchinson lifted its position in shares of Visa by 1.2% during the 1st quarter. First National Bank of Hutchinson now owns 4,829 shares of the credit-card processor’s stock valued at $1,348,000 after acquiring an additional 59 shares during the period. Finally, Fortis Capital Advisors LLC boosted its position in shares of Visa by 11.7% during the 1st quarter. Fortis Capital Advisors LLC now owns 2,424 shares of the credit-card processor’s stock worth $676,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Jefferies Financial Group upped their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Susquehanna boosted their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Trading Down 0.5 %

Visa stock traded down $1.48 during trading hours on Wednesday, reaching $308.37. The company had a trading volume of 295,093 shares, compared to its average volume of 6,997,839. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa Inc. has a 12-month low of $245.34 and a 12-month high of $312.44. The company has a 50-day moving average price of $285.26 and a 200 day moving average price of $275.17. The firm has a market cap of $561.95 billion, a price-to-earnings ratio of 31.84, a P/E/G ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.33 earnings per share. Equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is 21.38%.

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.