OVERSEA CHINESE BANKING Corp Ltd Has $22.17 Million Stock Holdings in Visa Inc. $V

OVERSEA CHINESE BANKING Corp Ltd increased its position in Visa Inc. (NYSE:V) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,693 shares of the credit-card processor’s stock after buying an additional 2,712 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Visa were worth $22,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Cresta Advisors Ltd. bought a new position in shares of Visa during the fourth quarter valued at $26,000. Parvin Asset Management LLC grew its stake in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. RHL Group LLC bought a new stake in shares of Visa in the fourth quarter worth $34,000. Timmons Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at $34,000. Finally, Copos Capital S.a r.l. bought a new position in Visa during the 4th quarter worth $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V stock opened at $366.31 on Friday. The stock has a 50-day moving average price of $352.75 and a 200-day moving average price of $329.35. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97. 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 cap 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.

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

Visa Dividend Announcement

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

Visa announced that its board has approved a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on V shares. Oppenheimer reiterated an “outperform” rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Barclays initiated coverage on shares of Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $430.00 price target on shares of Visa in a report on Wednesday, July 29th. Finally, Robert W. Baird boosted their price target on shares of Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $413.58.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 20,970 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,162,953.50. This trade represents a 58.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction on 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 completion of the sale, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is currently owned by company insiders.

About Visa

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.