Visa Inc. (NYSE:V) Position Reduced by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd cut its position in shares of Visa Inc. (NYSE:V) by 30.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 700 shares of the credit-card processor’s stock after selling 300 shares during the quarter. BOCHK Asset Management Ltd’s holdings in Visa were worth $221,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in Visa during the third quarter valued at approximately $26,000. Modus Advisors LLC bought a new position in Visa during the fourth quarter valued at approximately $32,000. Reston Wealth Management LLC bought a new position in Visa during the third quarter valued at approximately $31,000. Finally, Sugar Maple Asset Management LLC bought a new position in Visa during the fourth quarter valued at approximately $44,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.3 %

Shares of V stock opened at $342.05 on Friday. The stock has a market cap of $637.19 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $351.25. The stock has a fifty day moving average price of $317.09 and a 200 day moving average price of $292.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. Analysts predict that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America raised their price objective on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $352.27.

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.