Visa Inc. (NYSE:V) Stock Position Boosted by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC boosted its stake in Visa Inc. (NYSE:V) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,513,706 shares of the credit-card processor’s stock after buying an additional 26,700 shares during the period. Visa accounts for 1.3% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 11th biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Visa were worth $416,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in Visa in the 3rd quarter valued at about $26,000. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC boosted its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Visa during the 2nd quarter valued at about $35,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on V. Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 0.1 %

NYSE:V opened at $315.08 on Monday. Visa Inc. has a 12 month low of $252.14 and a 12 month high of $316.37. The firm has a market cap of $586.96 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.12 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $292.09 and its 200-day moving average is $278.55.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s 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 sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa 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.