CHB Investment Group LLC Takes $3.58 Million Position in Visa Inc. $V

CHB Investment Group LLC acquired a new stake in shares of Visa Inc. (NYSE:V) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 10,072 shares of the credit-card processor’s stock, valued at approximately $3,576,000. Visa makes up about 1.8% of CHB Investment Group LLC’s investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter worth $28,000. Cranbrook Wealth Management LLC increased its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in Visa in the first quarter worth $38,000. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $338.69 on Thursday. The company has a market capitalization of $620.75 billion, a PE ratio of 33.08, a P/E/G ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $345.19 and a two-hundred day simple moving average of $346.27. Visa Inc. has a one year low of $268.23 and a one year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Analysts Set New Price Targets

V has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Barclays reissued an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday. Finally, UBS Group reaffirmed a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $385.96.

Visa 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.