China Universal Asset Management Co. Ltd. Has $11.50 Million Stake in Visa Inc. (NYSE:V)

China Universal Asset Management Co. Ltd. trimmed its stake in Visa Inc. (NYSE:V) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,806 shares of the credit-card processor’s stock after selling 994 shares during the period. Visa comprises approximately 1.3% of China Universal Asset Management Co. Ltd.’s investment portfolio, making the stock its 15th biggest position. China Universal Asset Management Co. Ltd.’s holdings in Visa were worth $11,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Visa during the 2nd quarter worth about $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the 2nd quarter worth about $35,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Visa stock opened at $281.96 on Wednesday. Visa Inc. has a 52 week low of $230.03 and a 52 week high of $293.07. The company’s 50 day moving average price is $279.65 and its two-hundred day moving average price is $273.26. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $515.69 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.95 and a beta of 0.96.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. BMO Capital Markets increased their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

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.