10,072 Shares in Visa Inc. $V Purchased by CHB Investment Group LLC

Key Points

• CHB Investment Group LLC has bought a new position in Visa Inc., acquiring 10,072 shares valued at approximately $3,576,000, making Visa 1.8% of their portfolio.
• Visa recently announced a quarterly dividend of $0.59 per share, which is part of an annualized dividend yield of 0.7% and a payout ratio of 23.05%.
• The company reported a strong quarterly earnings result with $10.17 billion in revenue, surpassing estimates, and a year-over-year earnings per share increase from $2.42 to $2.98.

CHB Investment Group LLC purchased a new position in Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,072 shares of the credit-card processor's stock, valued at approximately $3,576,000. Visa makes up 1.8% of CHB Investment Group LLC's portfolio, making the stock its 22nd biggest holding.

Other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Visa during the 1st quarter valued at about $38,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa Price Performance

Shares of NYSE:V opened at $338.69 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a market capitalization of $620.75 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.25 and a beta of 0.92. The firm's 50 day simple moving average is $345.19 and its two-hundred day simple moving average is $346.27.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is currently 23.05%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.