O Brien Wealth Partners LLC Cuts Holdings in Visa Inc. $V

O Brien Wealth Partners LLC cut its position in shares of Visa Inc. (NYSE:V) by 42.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89 shares of the credit-card processor’s stock after selling 66 shares during the quarter. O Brien Wealth Partners LLC’s holdings in Visa were worth $32,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Brighton Jones LLC boosted its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Woodline Partners LP boosted its holdings in Visa by 13,177.7% during the fourth quarter. Woodline Partners LP now owns 104,097 shares of the credit-card processor’s stock worth $32,899,000 after purchasing an additional 103,313 shares during the last quarter. BIP Alliance LLC purchased a new position in Visa during the fourth quarter worth about $392,000. Finally, Ames National Corp purchased a new position in Visa in the fourth quarter valued at about $632,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on V shares. Morgan Stanley boosted 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. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $385.96.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s 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 sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

NYSE V opened at $345.62 on Thursday. The company’s 50 day moving average is $346.16 and its 200-day moving average is $346.63. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $633.45 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92.

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

Visa Announces Dividend

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

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.