Oppenheimer Asset Management Inc. Trims Stock Holdings in Visa Inc. $V

Oppenheimer Asset Management Inc. reduced its holdings in Visa Inc. (NYSE:V) by 5.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 399,514 shares of the credit-card processor’s stock after selling 21,230 shares during the quarter. Visa makes up 1.6% of Oppenheimer Asset Management Inc.’s portfolio, making the stock its 4th biggest position. Oppenheimer Asset Management Inc.’s holdings in Visa were worth $141,847,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the 1st quarter worth about $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter worth about $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the 2nd quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC increased its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. UBS Group reaffirmed a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Finally, Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $392.75.

Visa Stock Performance

Shares of V opened at $347.51 on Wednesday. The firm’s 50 day moving average is $344.99 and its 200-day moving average is $348.25. The stock has a market capitalization of $636.92 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12-month low of $281.35 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.13% 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.