Visa Inc. (NYSE:V) Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its position in Visa Inc. (NYSE:V) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,513,706 shares of the credit-card processor’s stock after buying an additional 26,700 shares during the period. Visa comprises 1.3% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 11th largest holding. Chevy Chase Trust Holdings LLC owned approximately 0.08% of Visa worth $416,194,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cladis Investment Advisory LLC acquired a new position in Visa during the third quarter worth approximately $205,000. Coastwise Capital Group LLC increased its position in Visa by 23.8% during the third quarter. Coastwise Capital Group LLC now owns 2,260 shares of the credit-card processor’s stock worth $621,000 after purchasing an additional 435 shares during the last quarter. Community Bank N.A. increased its position in Visa by 2.7% during the third quarter. Community Bank N.A. now owns 13,653 shares of the credit-card processor’s stock worth $3,754,000 after purchasing an additional 363 shares during the last quarter. Arvin Capital Management LP acquired a new position in Visa during the third quarter worth approximately $6,643,000. Finally, Beacon Investment Advisory Services Inc. increased its position in Visa by 2.8% during the third quarter. Beacon Investment Advisory Services Inc. now owns 4,101 shares of the credit-card processor’s stock worth $1,128,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

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 company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $586.96 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The company’s fifty day moving average price is $292.09 and its two-hundred day moving average price is $278.55.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated 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 of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on V. Robert W. Baird upped their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $321.00 price objective (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Finally, Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.