Oppenheimer Asset Management Inc. Sells 8,619 Shares of Visa Inc. (NYSE:V)

Oppenheimer Asset Management Inc. lessened its stake in Visa Inc. (NYSE:V) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 433,440 shares of the credit-card processor’s stock after selling 8,619 shares during the quarter. Visa comprises approximately 1.7% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Oppenheimer Asset Management Inc.’s holdings in Visa were worth $136,984,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC boosted its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its stake in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Visa during the third quarter valued at approximately $268,640,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Visa in the third quarter valued at approximately $227,342,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. This represents a 17.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 in the last quarter. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on V. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. The Goldman Sachs Group boosted their price target on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, Mizuho raised their target price on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $353.96.

Visa Stock Performance

NYSE:V opened at $363.33 on Friday. The stock has a market capitalization of $674.99 billion, a P/E ratio of 36.63, a PEG ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $364.00. The company has a 50 day moving average price of $333.03 and a 200 day moving average price of $305.34.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa’s payout ratio is 23.79%.

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.