Taikang Asset Management Hong Kong Co Ltd Sells 4,083 Shares of Visa Inc. $V

Key Points

• Taikang Asset Management Hong Kong Co Ltd reduced its stake in Visa Inc. by 8.4%, selling 4,083 shares and holding 44,494 shares valued at approximately $15.6 million.
• Vanguard Group Inc. and other institutional investors increased their positions in Visa, highlighting growing confidence in the company's performance within the market.
• Visa recently announced a quarterly dividend of $0.59, reflecting an annualized yield of 0.7%, scheduled for payment on September 2nd to stockholders of record.

Taikang Asset Management Hong Kong Co Ltd lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,494 shares of the credit-card processor's stock after selling 4,083 shares during the period. Visa makes up about 2.1% of Taikang Asset Management Hong Kong Co Ltd's holdings, making the stock its 12th biggest position. Taikang Asset Management Hong Kong Co Ltd's holdings in Visa were worth $15,593,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares in the last quarter. Northern Trust Corp increased its stake in Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Visa by 38,416.3% in the 1st 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock valued at $4,210,207,000 after acquiring an additional 1,723,785 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Visa by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock valued at $4,045,149,000 after acquiring an additional 164,008 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Price Performance

Shares of Visa stock opened at $349.3180 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $265.31 and a 52-week high of $375.51. The company has a fifty day moving average of $347.92 and a 200-day moving average of $347.39. The stock has a market capitalization of $640.23 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping 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 analysts' expectations of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock worth $28,340,553 in the last ninety days. 0.13% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.