OMC Financial Services LTD Purchases New Holdings in Visa Inc. (NYSE:V)

OMC Financial Services LTD purchased a new stake in Visa Inc. (NYSE:V) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,126 shares of the credit-card processor’s stock, valued at approximately $15,664,000. Visa comprises 8.0% of OMC Financial Services LTD’s investment portfolio, making the stock its 4th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Norges Bank acquired a new stake in shares of Visa during the 4th quarter worth approximately $3,895,015,000. International Assets Investment Management LLC raised its position in shares of Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the period. National Bank of Canada FI raised its position in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. Swedbank AB acquired a new stake in shares of Visa during the 1st quarter worth approximately $511,321,000. Finally, GQG Partners LLC boosted its stake in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

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

Visa Stock Up 0.2 %

V traded up $0.65 during trading on Friday, reaching $266.58. 7,017,857 shares of the stock traded hands, compared to its average volume of 7,476,283. The stock has a market cap 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 Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50-day simple moving average is $268.91 and its two-hundred day simple moving average is $274.24.

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

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on V shares. Royal Bank of Canada decreased their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Wedbush lifted their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Oppenheimer lifted their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $307.25.

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.