Visa Inc. (NYSE:V) Stock Position Raised by Chicago Capital LLC

Chicago Capital LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 384,891 shares of the credit-card processor’s stock after buying an additional 10,900 shares during the period. Visa comprises 3.0% of Chicago Capital LLC’s investment portfolio, making the stock its 6th biggest holding. Chicago Capital LLC’s holdings in Visa were worth $101,022,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares in the last quarter. Capital International Investors increased its stake in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors raised its holdings in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Norges Bank purchased a new stake in Visa during the fourth quarter worth $3,895,015,000. Finally, Fisher Asset Management LLC grew its holdings in Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after purchasing an additional 166,767 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.3 %

Shares of V stock traded up $0.75 on Friday, hitting $279.37. The stock had a trading volume of 7,187,805 shares, compared to its average volume of 7,125,969. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The firm has a market capitalization of $509.10 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average is $266.53 and its 200-day moving average is $273.14.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.74%. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on V shares. Piper Sandler decreased their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Evercore ISI dropped their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. TD Cowen reduced their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group dropped their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $309.54.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

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.