Nan Shan Life Insurance Co. Ltd. Reduces Position in Visa Inc. $V

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Nan Shan Life Insurance Co. Ltd. lessened its stake in Visa Inc. (NYSE:V - Free Report) by 98.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,590 shares of the credit-card processor's stock after selling 123,796 shares during the quarter. Nan Shan Life Insurance Co. Ltd.'s holdings in Visa were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new stake in Visa in the 1st quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the 4th quarter worth approximately $47,000. Navigoe LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on V. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays restated an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average price target of $380.84.

Visa Price Performance

Shares of NYSE V traded up $1.54 during midday trading on Wednesday, reaching $343.99. 5,831,705 shares of the company were exchanged, compared to its average volume of 6,355,473. The stock's 50-day moving average price is $349.13 and its 200-day moving average price is $347.41. The stock has a market cap of $630.46 billion, a P/E ratio of 33.59, a PEG ratio of 2.28 and a beta of 0.94. Visa Inc. has a one year low of $265.31 and a one year high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. 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 dividend payout ratio is 23.05%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,127 shares of company stock worth $28,340,553 in the last quarter. Insiders own 0.13% of the company's stock.

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.