Visa Inc. (NYSE:V) Stake Cut by SeaTown Holdings Pte. Ltd.

SeaTown Holdings Pte. Ltd. cut its holdings in Visa Inc. (NYSE:V) by 48.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,500 shares of the credit-card processor’s stock after selling 30,319 shares during the period. Visa accounts for about 5.7% of SeaTown Holdings Pte. Ltd.’s holdings, making the stock its 8th biggest position. SeaTown Holdings Pte. Ltd.’s holdings in Visa were worth $9,070,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Capital International Investors raised its holdings in Visa by 2.7% in the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after acquiring an additional 596,950 shares during the last quarter. Capital World Investors raised 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 buying an additional 1,323,238 shares during the period. Norges Bank purchased a new position in shares of Visa in the 4th quarter worth $3,895,015,000. Jennison Associates LLC raised its position in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Visa by 1.4% in the 4th 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 buying an additional 141,566 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Visa Price Performance

NYSE:V traded up $0.93 during trading hours on Friday, reaching $269.92. 1,544,432 shares of the company’s stock were exchanged, compared to its average volume of 6,778,043. The company has a market capitalization of $493.67 billion, a P/E ratio of 30.05, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. Visa Inc. has a 12 month low of $227.68 and a 12 month high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $273.33 and its two-hundred day simple moving average is $273.62.

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

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have commented on V. Piper Sandler began coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

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.