Omega Financial Group LLC Boosts Stake in Visa Inc. (NYSE:V)

Omega Financial Group LLC boosted its position in shares of Visa Inc. (NYSE:V) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,220 shares of the credit-card processor’s stock after acquiring an additional 145 shares during the quarter. Omega Financial Group LLC’s holdings in Visa were worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. Nadler Financial Group Inc. grew its holdings in Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC bought a new stake in Visa during the fourth quarter valued at about $216,000. Andrew Hill Investment Advisors Inc. bought a new stake in Visa during the fourth quarter valued at about $3,427,000. Richelieu Gestion SA bought a new stake in Visa during the fourth quarter valued at about $307,000. Finally, Cooper Financial Group grew its holdings in Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on V. UBS Group boosted their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Evercore ISI dropped their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Wedbush upped their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada increased their price target on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $303.56.

Visa Stock Up 0.3 %

Shares of NYSE V opened at $263.17 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $481.32 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The stock’s fifty day simple moving average is $273.88 and its two-hundred day simple moving average is $273.58. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. As a group, analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.79%. Visa’s payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Company 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.