Alpha Omega Group Inc. Takes $210,000 Position in Visa Inc. (NYSE:V)

Alpha Omega Group Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 598 shares of the credit-card processor’s stock, valued at approximately $210,000. Visa accounts for 0.2% of Alpha Omega Group Inc.’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Financial Partners Group Inc increased its position in shares of Visa by 5.2% during the first quarter. Financial Partners Group Inc now owns 753 shares of the credit-card processor’s stock worth $264,000 after acquiring an additional 37 shares in the last quarter. Wesleyan Assurance Society increased its position in shares of Visa by 15.5% during the first quarter. Wesleyan Assurance Society now owns 66,585 shares of the credit-card processor’s stock worth $23,328,000 after acquiring an additional 8,955 shares in the last quarter. Oakwell Private Wealth Management LLC increased its position in shares of Visa by 11.4% during the first quarter. Oakwell Private Wealth Management LLC now owns 4,325 shares of the credit-card processor’s stock worth $1,516,000 after acquiring an additional 443 shares in the last quarter. Nelson Capital Management LLC increased its position in shares of Visa by 1.3% during the first quarter. Nelson Capital Management LLC now owns 30,136 shares of the credit-card processor’s stock worth $10,562,000 after acquiring an additional 383 shares in the last quarter. Finally, PFG Advisors increased its position in shares of Visa by 15.5% during the first quarter. PFG Advisors now owns 26,151 shares of the credit-card processor’s stock worth $9,165,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Morgan Stanley boosted their target price on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Finally, Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.16.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock worth $32,902,432 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 0.0%

V stock opened at $351.22 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $648.06 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.37 and a beta of 0.92. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The stock has a fifty day moving average of $355.61 and a 200-day moving average of $345.86.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 59.03%. Visa’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.42 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is currently 23.72%.

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.