Visa Inc. $V is Chicago Capital LLC's 3rd Largest Position

Key Points

• Chicago Capital LLC has reduced its stake in Visa Inc. by 0.6% in the second quarter, maintaining it as their 3rd largest position in the portfolio, worth approximately $144.6 million.
• CEO Ryan Mcinerney sold over 10,000 shares of Visa stock, marking a 95.13% decrease in his position, while the company has maintained a dividend yield of 0.7%.
• Visa's stock has a current market cap of $634.09 billion, with a price-to-earnings ratio of 33.79 and is regarded by analysts with an average target price of $385.96.

Chicago Capital LLC reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 407,369 shares of the credit-card processor's stock after selling 2,261 shares during the period. Visa makes up approximately 3.6% of Chicago Capital LLC's portfolio, making the stock its 3rd largest position. Chicago Capital LLC's holdings in Visa were worth $144,636,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Apella Capital LLC increased its holdings in Visa by 67.7% in the first quarter. Apella Capital LLC now owns 2,989 shares of the credit-card processor's stock valued at $994,000 after buying an additional 1,207 shares in the last quarter. Clare Market Investments LLC increased its holdings in Visa by 16.1% in the first quarter. Clare Market Investments LLC now owns 3,295 shares of the credit-card processor's stock valued at $1,155,000 after buying an additional 456 shares in the last quarter. Finally, Matrix Trust Co increased its holdings in Visa by 28.0% in the first quarter. Matrix Trust Co now owns 654 shares of the credit-card processor's stock valued at $229,000 after buying an additional 143 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction 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 completion of the transaction, the general counsel owned 11,925 shares in the company, 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. 0.13% of the stock is owned by company insiders.

Visa Stock Down 0.5%

Shares of NYSE V opened at $345.97 on Friday. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The firm's 50 day moving average price is $343.92 and its 200 day moving average price is $346.60. The firm has a market cap of $634.09 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the business earned $2.42 earnings per share. Visa's revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced 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 was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on V. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Barclays reaffirmed an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group reissued a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $385.96.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

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.