Visa Inc. $V Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its holdings in Visa Inc. by 6.5%, selling 28,733 shares to hold 415,304 shares, valued at approximately $147.45 million.
• Insider activity included sales by General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney, with Mcinerney significantly reducing his stake by 95.13% to 537 shares.
• Visa reported strong earnings with an EPS of $2.98 for the last quarter, surpassing estimates, and announced a quarterly dividend of $0.59, representing a yield of 0.7%.

Mirae Asset Global Investments Co. Ltd. lowered its position in Visa Inc. (NYSE:V - Free Report) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 415,304 shares of the credit-card processor's stock after selling 28,733 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Visa were worth $147,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in 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. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC lifted its stake in shares of Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after purchasing an additional 3,484 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. boosted its holdings in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's 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 completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Morgan Stanley lifted 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. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Performance

Shares of NYSE V opened at $349.90 on Monday. The company has a 50-day simple moving average of $343.78 and a 200-day simple moving average of $346.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $641.28 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90. Visa Inc. has a 12 month low of $273.24 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

About Visa

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.

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