Caitong International Asset Management Co. Ltd Has $76,000 Stock Position in Visa Inc. $V

Caitong International Asset Management Co. Ltd reduced its stake in Visa Inc. (NYSE:V) by 38.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 214 shares of the credit-card processor’s stock after selling 131 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Visa were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa during the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $392.75.

Visa Trading Up 0.4%

NYSE V opened at $347.34 on Monday. The firm has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90. The business has a fifty day simple moving average of $344.79 and a 200 day simple moving average of $347.98. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 EPS. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.