56,126 Shares in Visa Inc. (NYSE:V) Purchased by OMC Financial Services LTD

OMC Financial Services LTD purchased a new position in Visa Inc. (NYSE:V) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 56,126 shares of the credit-card processor’s stock, valued at approximately $15,664,000. Visa makes up 8.0% of OMC Financial Services LTD’s investment portfolio, making the stock its 4th largest holding.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors boosted its holdings in shares of Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares during the last quarter. Capital World Investors boosted its holdings in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Norges Bank purchased a new position in shares of Visa in the fourth quarter worth approximately $3,895,015,000. Finally, Jennison Associates LLC boosted its holdings in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock traded up $0.65 on Friday, reaching $266.58. The company’s stock had a trading volume of 7,017,857 shares, compared to its average volume of 7,476,283. The stock’s fifty day simple moving average is $268.91 and its 200-day simple moving average is $274.24. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $487.56 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. Analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research reports. Royal Bank of Canada dropped their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. StockNews.com downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley decreased their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $307.25.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

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.