Chesapeake Wealth Management Sells 178 Shares of Visa Inc. (NYSE:V)

Chesapeake Wealth Management cut its position in Visa Inc. (NYSE:V) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,592 shares of the credit-card processor’s stock after selling 178 shares during the quarter. Chesapeake Wealth Management’s holdings in Visa were worth $438,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of V. Capital International Investors grew its stake in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares during the period. Capital World Investors raised its stake in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after buying an additional 345,829 shares during the period. Legal & General Group Plc raised its stake in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.8 %

Shares of Visa stock opened at $312.16 on Tuesday. The firm has a market capitalization of $568.85 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company’s fifty day moving average price is $287.57 and its two-hundred day moving average price is $276.32. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. On average, analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Bank of America boosted their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Macquarie upped their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, 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, September 12th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

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.