Chesapeake Wealth Management Reduces Stock Position in Visa Inc. (NYSE:V)

Chesapeake Wealth Management decreased its position in shares of Visa Inc. (NYSE:V) by 2.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,547 shares of the credit-card processor’s stock after selling 45 shares during the period. Chesapeake Wealth Management’s holdings in Visa were worth $489,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of V. Unionview LLC increased its stake in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after acquiring an additional 33 shares during the last quarter. Forza Wealth Management LLC grew its holdings in shares of Visa by 2.9% during the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after purchasing an additional 33 shares during the period. Presilium Private Wealth LLC increased its position in Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock worth $475,000 after purchasing an additional 33 shares in the last quarter. St. Louis Trust Co raised its holdings in Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after buying an additional 34 shares during the period. Finally, FWG Holdings LLC lifted its position in Visa by 1.1% during the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on V. Macquarie raised their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen raised their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their target price on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Barclays upped their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $332.81.

Visa Trading Down 0.0 %

NYSE V opened at $323.55 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a one year low of $252.70 and a one year high of $325.74. The company has a 50-day simple moving average of $313.86 and a 200-day simple moving average of $289.47. The firm has a market capitalization of $602.73 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.