Visa Inc. $V Shares Sold by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Visa Inc. by 0.1%, owning approximately 1.5% of the firm's total portfolio, worth around $523.5 million.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding analysts' expectations of $2.85, with a revenue of $10.17 billion for the quarter.
• The company declared a quarterly dividend of $0.59 per share, which reflects an annualized dividend yield of 0.7% and a payout ratio of 23.05%.

Chevy Chase Trust Holdings LLC lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,474,513 shares of the credit-card processor's stock after selling 1,906 shares during the period. Visa accounts for approximately 1.5% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 11th biggest position. Chevy Chase Trust Holdings LLC owned approximately 0.08% of Visa worth $523,526,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Arista Wealth Management LLC acquired a new position in shares of Visa during the 2nd quarter worth about $2,357,000. Stratos Wealth Partners LTD. raised its position in shares of Visa by 4.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 52,326 shares of the credit-card processor's stock worth $18,578,000 after purchasing an additional 2,312 shares during the last quarter. BXM Wealth LLC raised its position in shares of Visa by 17.1% during the 2nd quarter. BXM Wealth LLC now owns 977 shares of the credit-card processor's stock worth $347,000 after purchasing an additional 143 shares during the last quarter. Private Trust Co. NA raised its position in shares of Visa by 4.0% during the 2nd quarter. Private Trust Co. NA now owns 13,842 shares of the credit-card processor's stock worth $4,914,000 after purchasing an additional 531 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its position in shares of Visa by 13.1% during the 2nd quarter. Angeles Wealth Management LLC now owns 18,239 shares of the credit-card processor's stock worth $6,476,000 after purchasing an additional 2,111 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Visa stock opened at $344.44 on Tuesday. The firm has a 50 day simple moving average of $344.47 and a 200-day simple moving average of $347.11. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $631.28 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

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

Visa Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 completion of the transaction, the general counsel 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Visa in a report on Wednesday, October 8th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $389.00.

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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