OVERSEA CHINESE BANKING Corp Ltd Sells 58,128 Shares of Visa Inc. (NYSE:V)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of Visa Inc. (NYSE:V) by 34.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 108,414 shares of the credit-card processor’s stock after selling 58,128 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Visa were worth $29,785,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Arjuna Capital boosted its holdings in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares during the last quarter. Custom Index Systems LLC acquired a new stake in shares of Visa in the 3rd quarter valued at approximately $731,000. Mechanics Bank Trust Department boosted its holdings in shares of Visa by 8.0% in the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after buying an additional 2,410 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Visa by 46.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after buying an additional 16,078 shares during the last quarter. Finally, Chicago Capital LLC boosted its holdings in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Visa Stock Performance

Shares of V stock opened at $310.98 on Tuesday. The business’s 50-day moving average price is $284.64 and its 200-day moving average price is $274.92. Visa Inc. has a 12 month low of $244.11 and a 12 month high of $312.44. The firm has a market capitalization of $566.70 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 2.06 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

Analyst Ratings Changes

V has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa 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.