Visa Inc. $V Stake Lifted by Omega Financial Group LLC

Omega Financial Group LLC lifted its position in shares of Visa Inc. (NYSE:V) by 9.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,517 shares of the credit-card processor’s stock after acquiring an additional 317 shares during the period. Omega Financial Group LLC’s holdings in Visa were worth $1,249,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC raised its holdings in shares of Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after acquiring an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC acquired a new stake in Visa during the second quarter valued at $862,000. Iron Gate Global Advisors LLC increased its position in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares during the last quarter. Finally, NatWest Group plc raised its stake in shares of Visa by 43.8% during the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after purchasing an additional 13,912 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $335.76 on Friday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $342.43 and a 200 day simple moving average of $348.69. The firm has a market capitalization of $615.37 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.05 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.71 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is presently 26.25%.

Analysts Set New Price Targets

V has been the topic of a number of research reports. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insiders Place Their Bets

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 value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock worth $8,164,561 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.