Chicago Capital LLC Has $143.56 Million Stock Position in Visa Inc. (NYSE:V)

Chicago Capital LLC raised its position in Visa Inc. (NYSE:V - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,630 shares of the credit-card processor's stock after purchasing an additional 2,746 shares during the quarter. Visa accounts for approximately 4.1% of Chicago Capital LLC's holdings, making the stock its 2nd largest holding. Chicago Capital LLC's holdings in Visa were worth $143,559,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC raised its position in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors lifted its stake in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the last quarter. Capital World Investors boosted its holdings in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on V. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday. Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $372.80.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,448 shares of company stock valued at $50,133,659 over the last 90 days. Insiders own 0.13% of the company's stock.

Visa Trading Up 0.7%

NYSE V opened at $355.23 on Tuesday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The business has a 50 day moving average price of $350.71 and a 200-day moving average price of $338.05. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $655.46 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the company posted $2.51 earnings per share. The business's revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa's dividend payout ratio is presently 23.72%.

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.

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