Oakworth Capital Inc. Raises Position in Visa Inc. $V

Oakworth Capital Inc. raised its holdings in Visa Inc. (NYSE:V) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,368 shares of the credit-card processor’s stock after buying an additional 420 shares during the period. Oakworth Capital Inc.’s holdings in Visa were worth $2,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC lifted its position in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after purchasing an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after purchasing an additional 57,800 shares during the last quarter. Iron Gate Global Advisors LLC lifted its position in shares of Visa by 5.9% during 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. lifted its position in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group reissued a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley boosted their price target on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 2.0%

NYSE V opened at $348.21 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $638.20 billion, a PE ratio of 34.01, a P/E/G ratio of 2.27 and a beta of 0.90. Visa Inc. has a one year low of $273.24 and a one year high of $375.51. The firm’s fifty day moving average is $344.09 and its two-hundred day moving average is $346.52.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Visa 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.