OVERSEA CHINESE BANKING Corp Ltd Grows Stock Position in Visa Inc. (NYSE:V)

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Visa Inc. (NYSE:V) by 66.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,849 shares of the credit-card processor’s stock after buying an additional 66,463 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Visa were worth $58,123,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lakeridge Wealth Management LLC lifted its holdings in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC boosted its holdings in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. Eagle Strategies LLC grew its position in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after buying an additional 63 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in Visa by 7.7% in the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after buying an additional 43,546 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

NYSE V opened at $350.45 on Tuesday. The business’s 50-day moving average price is $356.96 and its 200 day moving average price is $343.09. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a market capitalization of $646.63 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the firm posted $2.51 EPS. The company’s revenue was up 9.3% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is 23.72%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on V shares. Truist Financial began coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. Finally, Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $372.84.

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.