Caitong International Asset Management Co. Ltd Sells 131 Shares of Visa Inc. $V

Caitong International Asset Management Co. Ltd lessened its holdings in Visa Inc. (NYSE:V) by 38.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214 shares of the credit-card processor’s stock after selling 131 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Visa were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Yeomans Consulting Group Inc. grew its stake in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC grew its stake in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC grew its stake in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after acquiring an additional 29 shares during the period. Transcendent Capital Group LLC grew its stake in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after acquiring an additional 29 shares during the period. Finally, Wood Tarver Financial Group LLC grew its stake in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock worth $105,000 after acquiring an additional 30 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 0.4%

V stock opened at $347.34 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $344.79 and its 200 day moving average is $347.98. The stock has a market cap of $636.60 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $392.75.

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.