Blue Chip Partners LLC Has $23.68 Million Position in Visa Inc. (NYSE:V)

Blue Chip Partners LLC grew its position in Visa Inc. (NYSE:V) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,223 shares of the credit-card processor’s stock after acquiring an additional 2,237 shares during the quarter. Visa accounts for about 2.2% of Blue Chip Partners LLC’s holdings, making the stock its 16th largest position. Blue Chip Partners LLC’s holdings in Visa were worth $23,681,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of V. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new position in Visa during the first quarter valued at approximately $25,000. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Visa during the 4th quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Visa stock traded up $1.20 during midday trading on Friday, hitting $275.52. 2,096,041 shares of the company were exchanged, compared to its average volume of 7,109,798. The firm has a market capitalization of $503.91 billion, a PE ratio of 30.70, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business has a fifty day simple moving average of $265.72 and a two-hundred day simple moving average of $273.11. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the business posted $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analysts Set New Price Targets

A number of brokerages recently commented on V. Macquarie restated an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Morgan Stanley lowered their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Mizuho increased their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

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.