Fullerton Fund Management Co Ltd. Has $1.11 Million Stake in Visa Inc. $V

by · The Markets Daily

Fullerton Fund Management Co Ltd. reduced its stake in shares of Visa Inc. (NYSE:V – Free Report) by 43.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,115 shares of the credit-card processor’s stock after selling 2,434 shares during the quarter. Fullerton Fund Management Co Ltd.’s holdings in Visa were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC grew its stake in Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after buying an additional 1,067,631 shares during the last quarter. Norges Bank acquired a new stake in shares of Visa during the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. raised its stake in shares of Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. HSBC raised Visa from a “hold” rating to a “buy” rating and raised their price target for the company from $335.00 to $389.00 in a report on Sunday, December 7th. Raymond James Financial restated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. KeyCorp reiterated an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Hsbc Global Res raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Finally, Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $402.52.

Read Our Latest Research Report on Visa

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 24,042 shares of company stock valued at $8,175,152. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $347.83 on Friday. The stock has a 50-day moving average price of $337.70 and a 200 day moving average price of $345.34. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $633.65 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.05 and a beta of 0.82. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the company posted $2.71 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were paid a $0.67 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is 26.25%.

Visa Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).