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

OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 66.9% in the first quarter, according to its most recent 13F filing with the 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 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the 1st quarter valued at about $27,000. Sellwood Investment Partners LLC acquired a new stake in shares of Visa during the 4th quarter valued at about $41,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Visa during the 4th quarter valued at about $47,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the 4th quarter valued at about $47,000. Finally, Navigoe LLC acquired a new stake in shares of Visa during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

V has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday. They set a "buy" rating and a $410.00 target price on the stock. Barclays restated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Macquarie lowered their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa Price Performance

Shares of Visa stock traded down $0.67 on Friday, hitting $349.14. 3,365,840 shares of the company were exchanged, compared to its average volume of 6,784,931. The stock has a market capitalization of $644.22 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 2.37 and a beta of 0.92. The company has a 50-day moving average price of $356.90 and a 200 day moving average price of $343.40. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.51 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 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 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.