Visa Inc. (NYSE:V) Stock Position Boosted by Chronos Wealth Management LLC

Chronos Wealth Management LLC lifted its position in Visa Inc. (NYSE:V) by 1.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,453 shares of the credit-card processor’s stock after purchasing an additional 476 shares during the period. Visa accounts for about 4.5% of Chronos Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Chronos Wealth Management LLC’s holdings in Visa were worth $8,648,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of V. Running Oak Capital LLC increased its holdings in Visa by 10.0% during the first quarter. Running Oak Capital LLC now owns 39,759 shares of the credit-card processor’s stock valued at $11,096,000 after buying an additional 3,607 shares during the period. Sanders Morris Harris LLC raised its stake in Visa by 62.1% in the first quarter. Sanders Morris Harris LLC now owns 9,218 shares of the credit-card processor’s stock valued at $2,573,000 after buying an additional 3,533 shares during the last quarter. GSG Advisors LLC increased its holdings in shares of Visa by 7.3% in the first quarter. GSG Advisors LLC now owns 940 shares of the credit-card processor’s stock valued at $260,000 after purchasing an additional 64 shares during the period. FOCUS Wealth Advisors LLC boosted its holdings in shares of Visa by 6.4% in the 1st quarter. FOCUS Wealth Advisors LLC now owns 7,443 shares of the credit-card processor’s stock valued at $2,077,000 after acquiring an additional 448 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC increased its stake in shares of Visa by 2.1% in the first quarter. Matthew Goff Investment Advisor LLC now owns 68,732 shares of the credit-card processor’s stock worth $19,182,000 after acquiring an additional 1,445 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $290.62 on Friday. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The firm has a market capitalization of $531.53 billion, a PE ratio of 32.47, a PEG ratio of 1.94 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $276.91 and its 200 day moving average price is $272.91.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the firm posted $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analyst Ratings Changes

Several research firms have commented on V. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Friday, September 27th. Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.