Visa Inc. (NYSE:V) Shares Sold by BOCHK Asset Management Ltd

BOCHK Asset Management Ltd lessened its stake in Visa Inc. (NYSE:V) by 33.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the credit-card processor’s stock after selling 500 shares during the period. BOCHK Asset Management Ltd’s holdings in Visa were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC increased its stake in Visa by 2.1% in the 3rd quarter. Bogart Wealth LLC now owns 57,851 shares of the credit-card processor’s stock valued at $15,906,000 after buying an additional 1,196 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Visa by 9.5% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 1,435 shares of the credit-card processor’s stock worth $395,000 after acquiring an additional 125 shares during the period. Jackson Wealth Management LLC raised its holdings in Visa by 57.7% during the third quarter. Jackson Wealth Management LLC now owns 14,512 shares of the credit-card processor’s stock worth $3,990,000 after purchasing an additional 5,308 shares in the last quarter. Lafayette Investments Inc. lifted its position in Visa by 8.4% in the third quarter. Lafayette Investments Inc. now owns 7,807 shares of the credit-card processor’s stock valued at $2,147,000 after purchasing an additional 607 shares during the period. Finally, Commonwealth Financial Services LLC boosted its holdings in Visa by 5.0% in the 3rd quarter. Commonwealth Financial Services LLC now owns 2,359 shares of the credit-card processor’s stock valued at $655,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on V shares. Robert W. Baird raised their price objective on shares of Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Compass Point started coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler dropped their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.19.

Insider Activity at Visa

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

Visa Trading Down 0.5 %

NYSE V opened at $281.73 on Friday. The company’s fifty day moving average price is $278.73 and its two-hundred day moving average price is $273.17. The company has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

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.