Visa Inc. (NYSE:V) Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services lowered its holdings in Visa Inc. (NYSE:V) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,174 shares of the credit-card processor’s stock after selling 100 shares during the quarter. Oak Harvest Investment Services’ holdings in Visa were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. POM Investment Strategies LLC raised its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC boosted its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in Visa during the 2nd quarter worth $35,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the second quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $289.89 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12-month low of $232.99 and a 12-month high of $296.34. The company has a market capitalization of $528.27 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The firm’s 50 day moving average is $280.53 and its 200-day moving average is $273.50.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.12 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a boost 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 annualized dividend and a yield of 0.81%. Visa’s dividend payout ratio is currently 21.38%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup increased their price objective on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna upped their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $320.07.

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.