Taikang Asset Management Hong Kong Co Ltd Sells 3,479 Shares of Visa Inc. $V

Taikang Asset Management Hong Kong Co Ltd trimmed its position in Visa Inc. (NYSE:V) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,015 shares of the credit-card processor’s stock after selling 3,479 shares during the quarter. Visa accounts for 1.9% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 11th largest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in Visa were worth $14,562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blueshift Asset Management LLC acquired a new stake in shares of Visa during the 2nd quarter valued at about $413,000. Westerkirk Capital Inc. acquired a new position in Visa in the second quarter worth about $14,119,000. NBW Capital LLC lifted its stake in Visa by 1.7% during the second quarter. NBW Capital LLC now owns 11,660 shares of the credit-card processor’s stock worth $4,140,000 after purchasing an additional 199 shares during the period. Van Hulzen Asset Management LLC boosted its holdings in Visa by 1.5% during the second quarter. Van Hulzen Asset Management LLC now owns 22,217 shares of the credit-card processor’s stock valued at $7,888,000 after purchasing an additional 331 shares in the last quarter. Finally, Boston Family Office LLC boosted its holdings in Visa by 0.9% during the second quarter. Boston Family Office LLC now owns 138,680 shares of the credit-card processor’s stock valued at $49,235,000 after purchasing an additional 1,299 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp reissued an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Macquarie reduced their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Erste Group Bank cut 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, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Activity

In other Visa news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,042 shares of company stock valued at $8,175,152 over the last three months. 0.13% of the stock is owned by insiders.

Visa Price Performance

Shares of V stock opened at $330.41 on Tuesday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock has a market capitalization of $601.93 billion, a PE ratio of 32.36, a PEG ratio of 1.98 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s fifty day moving average is $339.40 and its 200-day moving average is $346.93.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the business posted $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were given a dividend of $0.67 per share. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 26.25%.

About Visa

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.