OVERSEA CHINESE BANKING Corp Ltd Buys 2,712 Shares of Visa Inc. $V

OVERSEA CHINESE BANKING Corp Ltd grew its position in Visa Inc. (NYSE:V) by 4.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 64,693 shares of the credit-card processor’s stock after purchasing an additional 2,712 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Visa were worth $22,168,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nixon Peabody Trust Co. grew its stake in Visa by 58.1% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after buying an additional 1,543 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares during the period. Ticino Wealth bought a new position in shares of Visa in the fourth quarter worth $1,837,000. Beacon Financial Group grew its position in shares of Visa by 83.9% in the first quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock valued at $6,801,000 after purchasing an additional 10,267 shares in the last quarter. Finally, Sterling Investment Management LLC grew its position in shares of Visa by 43.7% in the fourth quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock valued at $6,254,000 after purchasing an additional 5,421 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 90,759 shares of company stock worth $32,375,779. 0.12% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of Visa stock opened at $366.31 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $653.65 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. The business’s 50-day moving average price is $352.75 and its 200-day moving average price is $329.35. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.98 EPS. Sell-side analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa announced that its board has authorized a stock repurchase program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is 22.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Susquehanna reiterated a “positive” rating and set a $427.00 price target (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Wolfe Research reissued an “outperform” rating and issued a $435.00 price target (up from $430.00) on shares of Visa in a report on Wednesday, July 29th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $432.00 price objective (up from $412.00) on shares of Visa in a research note on Thursday, July 30th. Finally, Robert W. Baird upped their target price on shares of Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $413.58.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.