Oak Associates Ltd. OH Increases Stake in Visa Inc. $V

Oak Associates Ltd. OH increased its position in Visa Inc. (NYSE:V) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,973 shares of the credit-card processor’s stock after buying an additional 2,077 shares during the quarter. Visa accounts for 3.5% of Oak Associates Ltd. OH’s portfolio, making the stock its 9th largest position. Oak Associates Ltd. OH’s holdings in Visa were worth $53,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Keystone Global Partners LLC purchased a new stake in shares of Visa in the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC grew its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new position in shares of Visa in the second quarter worth about $36,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.1%

Shares of NYSE:V opened at $328.37 on Tuesday. The firm has a market capitalization of $598.20 billion, a P/E ratio of 32.16, a P/E/G ratio of 1.94 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day moving average price of $340.25 and a 200-day moving average price of $347.74. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is currently 26.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group set a $425.00 target price on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Raymond James Financial restated an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 price target on shares of Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 24,042 shares of company stock worth $8,175,152. Insiders own 0.13% of the company’s stock.

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.