Oliver Luxxe Assets LLC Decreases Holdings in Visa Inc. (NYSE:V)

Oliver Luxxe Assets LLC lowered its position in Visa Inc. (NYSE:V) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,442 shares of the credit-card processor’s stock after selling 116 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Visa were worth $5,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Umpqua Bank lifted its position in Visa by 4.9% in the second quarter. Umpqua Bank now owns 9,402 shares of the credit-card processor’s stock valued at $2,468,000 after purchasing an additional 440 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Visa by 11,135.8% during the second quarter. Strategic Financial Concepts LLC now owns 403,365 shares of the credit-card processor’s stock valued at $105,871,000 after buying an additional 399,775 shares during the period. Cross Staff Investments Inc raised its holdings in shares of Visa by 2.3% during the second quarter. Cross Staff Investments Inc now owns 5,917 shares of the credit-card processor’s stock valued at $1,553,000 after acquiring an additional 132 shares in the last quarter. Asset Dedication LLC lifted its stake in Visa by 4.5% in the second quarter. Asset Dedication LLC now owns 29,333 shares of the credit-card processor’s stock worth $7,699,000 after acquiring an additional 1,271 shares during the period. Finally, Otter Creek Advisors LLC boosted its stake in shares of Visa by 17.9% during the 2nd quarter. Otter Creek Advisors LLC now owns 18,433 shares of the credit-card processor’s stock valued at $4,838,000 after purchasing an additional 2,800 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Jefferies Financial Group raised their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup upped their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Morgan Stanley boosted their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada increased their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $329.70.

Visa Trading Down 0.7 %

Shares of NYSE V traded down $2.23 during trading hours on Monday, hitting $312.68. 4,620,607 shares of the company traded hands, compared to its average volume of 4,680,359. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average price is $309.73 and its 200 day moving average price is $285.76. The stock has a market capitalization of $582.48 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $321.61.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.