Visa Inc. (NYSE:V) Stock Holdings Raised by Chronos Wealth Management LLC

Chronos Wealth Management LLC boosted its position in shares of Visa Inc. (NYSE:V) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 30,977 shares of the credit-card processor’s stock after purchasing an additional 266 shares during the period. Visa makes up 4.5% of Chronos Wealth Management LLC’s holdings, making the stock its 9th largest holding. Chronos Wealth Management LLC’s holdings in Visa were worth $8,131,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Alaethes Wealth LLC boosted its holdings in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares in the last quarter. Jessup Wealth Management Inc raised its holdings in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the last quarter. Long Run Wealth Advisors LLC lifted its stake in shares of Visa by 2.5% during the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after buying an additional 37 shares during the period. Cordatus Wealth Management LLC grew its holdings in shares of Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after buying an additional 37 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC increased its position in shares of Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V opened at $287.36 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a market cap of $523.66 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock’s 50 day simple moving average is $268.29 and its 200-day simple moving average is $273.31.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on V shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Citigroup dropped their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley reduced their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.81.

About Visa

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.