Visa Inc. (NYSE:V) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. cut its holdings in shares of Visa Inc. (NYSE:V) by 15.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,800 shares of the credit-card processor’s stock after selling 7,528 shares during the quarter. Visa comprises 1.6% of China Universal Asset Management Co. Ltd.’s portfolio, making the stock its 13th biggest position. China Universal Asset Management Co. Ltd.’s holdings in Visa were worth $11,234,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in V. Long Run Wealth Advisors LLC boosted its holdings in Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the last quarter. Alaethes Wealth LLC lifted its holdings in shares of Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares during the period. Jessup Wealth Management Inc boosted its stake in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the period. Finally, Aurora Private Wealth Inc. raised its position in Visa by 3.8% during the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock valued at $289,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley lowered their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Wedbush upped their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, TD Cowen cut their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Price Performance

V traded up $0.74 during trading on Tuesday, reaching $267.21. The company’s stock had a trading volume of 897,642 shares, compared to its average volume of 7,183,475. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a market cap of $486.94 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.89 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a fifty day simple moving average of $266.24 and a two-hundred day simple moving average of $273.50.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, analysts anticipate that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio is presently 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.