Visa Inc (NYSE:V) Stake Cut by Omega Financial Group LLC

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Omega Financial Group LLC cut its position in shares of Visa Inc (NYSE:V) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,040 shares of the credit-card processor’s stock after selling 269 shares during the quarter. Omega Financial Group LLC’s holdings in Visa were worth $695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. Bath Savings Trust Co lifted its stake in Visa by 14.5% in the second quarter. Bath Savings Trust Co now owns 10,224 shares of the credit-card processor’s stock valued at $1,774,000 after buying an additional 1,296 shares during the last quarter. Cox Capital Mgt LLC lifted its stake in Visa by 2.0% in the second quarter. Cox Capital Mgt LLC now owns 15,784 shares of the credit-card processor’s stock valued at $2,739,000 after buying an additional 315 shares during the last quarter. Thomasville National Bank lifted its stake in Visa by 1.0% in the second quarter. Thomasville National Bank now owns 98,183 shares of the credit-card processor’s stock valued at $17,039,000 after buying an additional 932 shares during the last quarter. Park National Corp OH lifted its stake in Visa by 8.3% in the second quarter. Park National Corp OH now owns 115,812 shares of the credit-card processor’s stock valued at $20,099,000 after buying an additional 8,901 shares during the last quarter. Finally, Winfield Associates Inc. lifted its stake in Visa by 0.7% in the second quarter. Winfield Associates Inc. now owns 32,439 shares of the credit-card processor’s stock valued at $5,630,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 80.99% of the company’s stock.

A number of equities research analysts have issued reports on the company. Guggenheim raised their target price on Visa from $178.00 to $190.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Robert W. Baird set a $196.00 target price on Visa and gave the company a “buy” rating in a research note on Friday, July 19th. SunTrust Banks raised their target price on Visa to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Wells Fargo & Co raised their target price on Visa from $181.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group raised their target price on Visa from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average target price of $196.57.

In related news, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the transaction, the insider now directly owns 62,223 shares of the company’s stock, valued at $11,271,074.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total value of $639,555.00. Following the transaction, the director now directly owns 3,452 shares in the company, valued at $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Shares of NYSE V traded down $0.56 during midday trading on Wednesday, reaching $170.30. 3,494,781 shares of the company traded hands, compared to its average volume of 7,616,737. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The stock has a 50-day moving average price of $176.63 and a 200 day moving average price of $171.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market cap of $350.02 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 1.82 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. As a group, analysts expect that Visa Inc will post 5.4 EPS for the current year.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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