Visa Inc. $V Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its holdings in Visa Inc. (NYSE:V) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,514 shares of the credit-card processor’s stock after selling 21,230 shares during the period. Visa makes up 1.6% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 4th biggest position. Oppenheimer Asset Management Inc.’s holdings in Visa were worth $141,847,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Prudent Man Advisors LLC increased its position in shares of Visa by 32.4% in the second quarter. Prudent Man Advisors LLC now owns 5,561 shares of the credit-card processor’s stock worth $1,974,000 after acquiring an additional 1,360 shares in the last quarter. Ballast Advisors LLC increased its position in shares of Visa by 2.2% in the second quarter. Ballast Advisors LLC now owns 8,544 shares of the credit-card processor’s stock worth $3,034,000 after acquiring an additional 180 shares in the last quarter. Fiduciary Wealth Partners LLC increased its position in shares of Visa by 444.9% in the second quarter. Fiduciary Wealth Partners LLC now owns 1,324 shares of the credit-card processor’s stock worth $470,000 after acquiring an additional 1,081 shares in the last quarter. Interchange Capital Partners LLC increased its position in shares of Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after acquiring an additional 30 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Visa by 8.3% in the second quarter. Brighton Jones LLC now owns 22,876 shares of the credit-card processor’s stock valued at $8,122,000 after purchasing an additional 1,758 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.1%

NYSE V opened at $347.51 on Wednesday. Visa Inc. has a 12 month low of $281.35 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $636.92 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The company’s fifty day moving average price is $344.99 and its two-hundred day moving average price is $348.25.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm posted $2.71 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated 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. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on V shares. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an “outperform” rating in a research note on Monday, October 6th. UBS Group restated a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus 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.