SeaTown Holdings Pte. Ltd. cut its stake in Visa Inc. (NYSE:V – Free Report) by 63.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,400 shares of the credit-card processor’s stock after selling 60,000 shares during the quarter. SeaTown Holdings Pte. Ltd.’s holdings in Visa were worth $7,756,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in V. BCK Partners Inc. bought a new stake in shares of Visa during the first quarter worth $2,717,000. Markel Corp increased its stake in shares of Visa by 0.3% during the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after buying an additional 3,065 shares during the period. AMI Investment Management Inc. purchased a new position in shares of Visa during the first quarter valued at $2,323,000. Ergoteles LLC purchased a new position in shares of Visa during the first quarter valued at $538,000. Finally, XTX Topco Ltd purchased a new position in shares of Visa during the first quarter valued at $1,496,000. 84.92% of the stock is currently owned by institutional investors.
Visa Trading Up 0.7 %
Visa stock opened at $238.14 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $240.00. The company has a market capitalization of $446.11 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.97. The stock has a 50-day moving average price of $229.20 and a 200 day moving average price of $225.30.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, May 11th. Visa’s payout ratio is presently 24.06%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on V shares. StockNews.com started coverage on Visa in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Raymond James raised their price target on Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. Barclays raised their price target on Visa from $270.00 to $272.00 in a research note on Monday, May 1st. Royal Bank of Canada lifted their target price on Visa from $262.00 to $265.00 in a research note on Wednesday, April 26th. Finally, KeyCorp lifted their target price on Visa from $250.00 to $260.00 in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $262.52.
Insider Buying and Selling at Visa
In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,706,880. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,602 shares of company stock valued at $33,336,374. 0.21% of the stock is owned by company insiders.
About Visa
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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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