CHICAGO TRUST Co NA Acquires 3,621 Shares of Visa Inc. $V

Key Points

• CHICAGO TRUST Co NA increased its holdings in Visa Inc. by 18.5%, acquiring an additional 3,621 shares in the second quarter, bringing their total ownership to 23,215 shares worth approximately $8.24 million.
• Visa reported earnings per share (EPS) of $2.98 for the last quarter, exceeding expectations, and achieved a revenue of $10.17 billion, marking a 14.3% year-over-year increase.
• The company declared a quarterly dividend of $0.59 per share, with an annualized yield of 0.7%, reflecting a payout ratio of 23.05%.

CHICAGO TRUST Co NA increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 18.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,215 shares of the credit-card processor's stock after purchasing an additional 3,621 shares during the quarter. Visa accounts for 1.2% of CHICAGO TRUST Co NA's holdings, making the stock its 15th biggest position. CHICAGO TRUST Co NA's holdings in Visa were worth $8,242,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the second quarter worth about $28,000. 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter worth approximately $38,000. Finally, Westend Capital Management LLC grew its stake in shares of Visa by 83.1% during the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V opened at $338.66 on Wednesday. The company has a market capitalization of $620.70 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.29 and a beta of 0.92. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $345.41 and a two-hundred day moving average price of $346.32.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given 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 dividend payout ratio is currently 23.05%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's 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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays reaffirmed an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Morgan Stanley raised their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. UBS Group restated a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $385.96.

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.

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