OVERSEA CHINESE BANKING Corp Ltd Decreases Holdings in Visa Inc. (NYSE:V)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Visa Inc. by 5.4% in the first quarter, owning 94,005 shares worth approximately $32.9 million.
• Visa recently declared a $0.59 quarterly dividend to be paid on September 2nd, with an annualized yield of 0.7% and a payout ratio of 23.05%.
• Analysts have set a consensus price target of $380.84 for Visa, with 23 analysts issuing a buy rating and only one holding a strong buy rating.

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,005 shares of the credit-card processor's stock after selling 5,381 shares during the quarter. Visa comprises about 0.9% of OVERSEA CHINESE BANKING Corp Ltd's portfolio, making the stock its 28th biggest position. OVERSEA CHINESE BANKING Corp Ltd's holdings in Visa were worth $32,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of V. GAMMA Investing LLC boosted its stake in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa during the fourth quarter worth $673,689,000. Sanders Capital LLC acquired a new stake in Visa in the 4th quarter valued at $623,022,000. Finally, Kovitz Investment Group Partners LLC increased its stake in Visa by 295.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after buying an additional 1,764,781 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 1.9%

Shares of V traded down $6.66 during trading hours on Friday, reaching $338.81. 8,655,366 shares of the stock traded hands, compared to its average volume of 5,746,410. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $355.06 and a 200 day simple moving average of $346.55. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51. The company has a market cap of $625.16 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.26 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the firm earned $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group reissued a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday. Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.84.

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.