Chevy Chase Trust Holdings Inc. bought a new stake in shares of Visa Inc (NYSE:V) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,027,971 shares of the credit-card processor’s stock, valued at approximately $268,605,000. Visa comprises approximately 1.2% of Chevy Chase Trust Holdings Inc.’s investment portfolio, making the stock its 11th biggest holding. Chevy Chase Trust Holdings Inc. owned 0.10% of Visa at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its holdings in shares of Visa by 184.4% in the 2nd quarter. Fiera Capital Corp now owns 916,722 shares of the credit-card processor’s stock worth $121,420,000 after buying an additional 594,398 shares during the period. Shepherd Financial Partners LLC lifted its holdings in shares of Visa by 13.8% in the 2nd quarter. Shepherd Financial Partners LLC now owns 33,761 shares of the credit-card processor’s stock worth $4,475,000 after buying an additional 4,107 shares during the period. NuWave Investment Management LLC lifted its holdings in shares of Visa by 38.4% in the 2nd quarter. NuWave Investment Management LLC now owns 1,448 shares of the credit-card processor’s stock worth $192,000 after buying an additional 402 shares during the period. Arjuna Capital purchased a new stake in shares of Visa in the 2nd quarter worth $1,226,000. Finally, Oak Asset Management LLC lifted its holdings in shares of Visa by 41.0% in the 2nd quarter. Oak Asset Management LLC now owns 11,632 shares of the credit-card processor’s stock worth $1,541,000 after buying an additional 3,380 shares during the period. 80.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on V. Loop Capital upped their price objective on Visa to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Bank of America upped their target price on Visa from $155.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Wells Fargo & Co upped their target price on Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Wolfe Research assumed coverage on Visa in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Finally, Oppenheimer upped their target price on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and a consensus target price of $153.97.
Visa stock traded up $6.33 during midday trading on Friday, hitting $140.06. 12,981,719 shares of the company were exchanged, compared to its average volume of 7,830,906. The firm has a market cap of $305.32 billion, a price-to-earnings ratio of 40.25, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. Visa Inc has a fifty-two week low of $106.60 and a fifty-two week high of $151.56. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last posted its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 EPS for the quarter, topping the consensus estimate of $1.09 by $0.11. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. Visa’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Equities analysts expect that Visa Inc will post 4.59 EPS for the current year.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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