Visa Inc. (NYSE:V) Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC lessened its stake in Visa Inc. (NYSE:V) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,690 shares of the credit-card processor’s stock after selling 130 shares during the period. Oliver Luxxe Assets LLC’s holdings in Visa were worth $4,658,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Golden Road Advisors LLC acquired a new position in Visa in the 1st quarter valued at $202,000. Diversified Trust Co increased its stake in shares of Visa by 11.3% in the 1st quarter. Diversified Trust Co now owns 69,754 shares of the credit-card processor’s stock worth $19,467,000 after acquiring an additional 7,106 shares during the last quarter. Skyline Advisors Inc. increased its stake in shares of Visa by 22.4% in the 1st quarter. Skyline Advisors Inc. now owns 1,357 shares of the credit-card processor’s stock worth $379,000 after acquiring an additional 248 shares during the last quarter. Aviance Capital Partners LLC increased its stake in shares of Visa by 28.1% in the 1st quarter. Aviance Capital Partners LLC now owns 21,474 shares of the credit-card processor’s stock worth $5,993,000 after acquiring an additional 4,715 shares during the last quarter. Finally, Omega Financial Group LLC increased its stake in shares of Visa by 4.7% in the 1st quarter. Omega Financial Group LLC now owns 3,220 shares of the credit-card processor’s stock worth $899,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on V shares. Wedbush raised their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird raised their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Wells Fargo & Company raised their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five equities research 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, Visa presently has an average rating of “Moderate Buy” and an average target price of $303.56.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, 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. 0.19% of the stock is owned by company insiders.

Visa Price Performance

Shares of Visa stock traded up $0.27 during trading on Monday, reaching $262.74. The company’s stock had a trading volume of 3,955,439 shares, compared to its average volume of 6,786,635. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96. The company has a market capitalization of $480.54 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The business has a 50 day moving average price of $273.88 and a 200-day moving average price of $273.58.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given 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 yield of 0.79%. Visa’s payout ratio is 23.24%.

Visa Company Profile

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.