Oakworth Capital Inc. Boosts Stake in Visa Inc. $V

Oakworth Capital Inc. lifted its position in shares of Visa Inc. (NYSE:V) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,368 shares of the credit-card processor’s stock after acquiring an additional 420 shares during the quarter. Oakworth Capital Inc.’s holdings in Visa were worth $2,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Baron Silver Stevens Financial Advisors LLC lifted its stake in Visa by 10.2% in the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 5,901 shares of the credit-card processor’s stock valued at $2,095,000 after buying an additional 548 shares in the last quarter. SWS Partners lifted its stake in Visa by 16.4% in the 2nd quarter. SWS Partners now owns 1,034 shares of the credit-card processor’s stock valued at $367,000 after buying an additional 146 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in Visa by 1.1% in the 2nd quarter. Archford Capital Strategies LLC now owns 46,884 shares of the credit-card processor’s stock valued at $16,646,000 after buying an additional 496 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Visa by 6.5% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 22,306 shares of the credit-card processor’s stock valued at $7,920,000 after buying an additional 1,369 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC lifted its stake in Visa by 22.6% in the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 5,683 shares of the credit-card processor’s stock worth $2,018,000 after purchasing an additional 1,048 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 2.0%

Shares of NYSE V opened at $348.21 on Thursday. The company has a 50 day simple moving average of $344.09 and a 200-day simple moving average of $346.52. The company has a market capitalization of $638.20 billion, a P/E ratio of 34.01, a P/E/G ratio of 2.27 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 1 year low of $273.24 and a 1 year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 EPS. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on V. Barclays reissued an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, UBS Group reissued a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

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.