SeaTown Holdings Pte. Ltd. Trims Holdings in Visa Inc. (NYSE:V)

SeaTown Holdings Pte. Ltd. cut its position in shares of Visa Inc. (NYSE:V) by 48.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,500 shares of the credit-card processor’s stock after selling 30,319 shares during the period. Visa makes up 5.7% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 8th largest holding. SeaTown Holdings Pte. Ltd.’s holdings in Visa were worth $9,070,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of V. Capital International Investors increased its holdings in Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after buying an additional 596,950 shares during the period. Capital World Investors boosted its position in shares of Visa by 8.0% in the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares in the last quarter. Norges Bank purchased a new position in Visa during the 4th quarter worth $3,895,015,000. Jennison Associates LLC raised its stake in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Visa by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock worth $2,725,079,000 after acquiring an additional 141,566 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on V shares. Citigroup raised their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada raised their price target on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Macquarie upped their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Stock Up 0.3 %

Visa stock traded up $0.93 during mid-day trading on Friday, hitting $269.92. The company had a trading volume of 1,544,432 shares, compared to its average volume of 6,778,043. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The business has a fifty day moving average of $273.33 and a 200 day moving average of $273.62. The stock has a market cap of $493.67 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Visa 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.